Facebook Will Buy WhatsApp For $16 Billion In Cash and Shares

Recent news point to Facebook engaging into an agreement to purchase the popular mobile messaging app, WhatsApp, for $16 billion in cash and stocks. The Verge states that a SEC document filed recently confirms the purchase agreement.

The same plan of action was filed with the pruchase of Instagram as well, that being the ability of WhatsApp operating as an independent messaging application and not integrated into Facebook’s Messenger, stating that the purchase will accelerate Facebook’s aim to bring socializing and connectivity all around the world.

“WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable.” said Facebook CEO, Mark Zuckerberg. “WhatsApp will complement our existing chat and messaging services to provide new tools for our community.” he added.

Statistics report showing around 450 million people accessing the WhatsApp application each month, having 70 percent of the total amount of users active each day. The changes will also bring WhatsApp’s CEO Jan Koum to Facebook’s board of directors. Koum also assured users that the deal will not affect the app’s usability by adding advertising principles, as “there would have been no partnership between our two companies if we had to compromise on the core principles that will always define our company, our vision and our product”.

Thank you The Verge for providing us with this information