Facebook To Buy WhatsApp In A $19 Billion Deal
New York: Facebook has said it was buying the fast-growing mobile messaging service WhatsApp for $19 billion in cash and stock, expanding the global footprint of the social networking giant.
The deal bolsters the world’s biggest social network by adding the 450 million users of WhatsApp, which will be operated independently with its own board.
It is Facebook’s biggest acquisition and comes less than two years after Mark Zuckerberg’s firm raised $16 billion in the richest tech sector public stock offering.
The purchase includes $12 billion in Facebook shares and $4 billion cash. It calls for an additional $3 billion in restricted stock units to be granted to WhatsApp founders and employees that will vest over four years.
“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,” said a Facebook statement.
Facebook reportedly sought to acquire another hot messaging firm, Snapchat, for $3 billion last year.
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