What a news for today…!!!
Facebook agreed to buy WhatsApp, the mobile messaging startup for $19 billion in cash and stock. The deal bolsters the world’s biggest social network by adding the 450 million users of WhatsApp, which will get operated independently with its own board. It is Facebook’s biggest deal and comes less than two years after Mark Zuckerberg’s firm raised $19 billion in the richest tech sector public stock offering.
WhatsApp will continue to operate independently and will maintain its brand. Co-Founder and CEO Jan Koum is ready to join Facebook's board of directors. Koum, the fellow Co-Founder Brian Acton and WhatsApp employees will receive an extra $3 billion (about £1.79b, AU$3.3b) in restricted stock over the next four years.
Facebook promised to keep the WhatsApp brand and service and pledged a $1 billion cash break-up fee were the deal to fall through. The acquisition supports Facebook and WhatsApp’s shared mission to bring more connectivity and utility to the world by delivering core Internet services efficiently and affordably. With this partnership, it will provide WhatsApp the flexibility to grow and expand and the rest of the team more time to focus on building a communications service that is as fast, affordable and personal as possible.
In the past, much of the spread of the Internet has happened on desktop computers. But now as the majority of new Internet users get connected through smart phones, which are expected to outnumber PCs soon. The messaging services like, Line in Japan, WeChat in China are the important apps for many of the new smart phone users.
What's more, WhatsApp "exciting" product road map will not change, and Koum noted more features will arrive in the next 12 to 24 months.
Author : Iman Majeed
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