Facebook-WhatsApp acquisition: Ten things you want to know
WhatsApp is a cross-platform mobile app which allows users to exchange messages without having to pay telecom charges.
Zee Media Bureau
New Delhi: Facebook will acquire mobile messaging company WhatsApp for 19 billion dollars in a cash and stock deal, the largest acquisition by the Mark Zuckerberg-led firm so far that will give it a stronghold in the market for messaging.
Let's have a look about ten interesting things about the app and its merger.
-WhatsApp is a cross-platform mobile app which allows users to exchange messages without having to pay telecom charges.
-WhatsApp was started five years ago. Jan Koum co-founded WhatsApp in 2009 with Brian Acton, both former Yahoo executives.
-WhatsApp had received about USD 10 million in funding two years after it was founded.
-There are 450 million users of WhatsApp.
-Post acquisition WhatsApp will be operated independently with its own board.
-WhatsApp co-founder and CEO Jan Koum will join Facebook Board of Directors.
-WhatsApp's headquarters will remain in California's Mountain View.
-WhatsApp is currently adding more than one million new registered users per day.
-Once the deal is closed, all outstanding shares of WhatsApp capital stock and options to purchase WhatsApp capital stock will be cancelled in exchange for four billion dollars in cash and over 183,865,778 shares of Facebook Class A common stock worth 12 billion dollars.
-Facebook will grant 45,966,444 restricted stock units to WhatsApp employees worth three billion dollars based. In the event of termination of the merger agreement in case regulatory approval is denied, Facebook would pay WhatsApp a fee of one billion dollars in cash.