Facebook buys WhatsApp for $16 Billion

WhatsApp users, here’s news for you.

Social network giant Facebook announced yesterday Wednesday 19th February 2014, its decision to buy popular messaging startup – WhatsApp.

The deal is worth $16 billion – $12 billion worth of Facebook stock and $ 4 billion in cash.

WhatsApp’s Jan Koum signing the Facebook deal on the door of his old welfare office

Like Instagram, the messaging app company will be independent within Facebook. Jan Koum, the co-founder and CEO will also join Facebook’s Board of Directors.

CEO of Facebook Mark Zuckerberg in a statement said; “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.”

With over 450 million users every month and 70% active, it is estimated that there will be over 1 Million users monthly.