Social media giant Facebook Inc acquired WhatsApp for 19 billion dollars in a cash and stock deal on 19 February 2014. Whatsapp is a mobile messaging company.
WhatsApp co-founder and CEO Jan Koum will join Facebook Board of Directors.
Important to note :
- WhatsApp's core messaging product and Facebook's existing messenger app will continue to operate as standalone applications.
- The acquisition price included 4 billion dollars in cash, about 12 billion dollars worth of Facebook shares and 3 billion dollars in restricted stock units to be granted to WhatsApp's founders and employees.
- Jan Koum co-founded WhatsApp with Brian Acton in 2009, both former Yahoo executives.
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