Mobile
messaging company WhatsApp is to be purchased by the social media giant
Facebook in a $19bn (£11bn) deal, it was revealed last night.
Facebook
announced it is to pay $4bn in cash with a further $12bn coming in stock. An
additional $3bn in restricted stock will be granted to WhatsApp’s founders and
employeed over four years.
The
acquisition of WhatsApp was, according to Facebook, to speed up the company’s
“ability to bring connectivity and utility to the world”. As part of the deal
Jan Koum, the WhatsApp founder and chief executive, is to join the Facebook
board.
Mark
Zuckerberg, Facebook founder and CEO, said in a statement as the purchase was
announced: "WhatsApp is on a path to connect 1 billion people. The
services that reach that milestone are all incredibly valuable.
"I've
known Jan for a long time and I'm excited to partner with him and his team to
make the world more open and connected."
reference: belfasttelegraph
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