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.
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.