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Facebook to buy WhatsApp for $19 billion in deal shocker

20
Feb
2014

Facebook Inc will buy fast-growing mobile-messaging startup WhatsApp for $19 billion in cash and stock in a landmark deal that places the worlds largest social network closer to the heart of mobile communications and may bring younger users into the fold. The WhatsApp deal is worth more than Facebook raised in its own IPO and underscores the social networks determination to win the market for messaging. Founded by a Ukrainian immigrant who dropped out of college, Jan Koum, and a Stanford alumnus, Brian Acton, WhatsApp is a Silicon Valley startup fairy tale, rocketing to 450 million users in five years and adding another million daily. No one in the history of the world has ever done something like this, Facebook Chief Executive Mark Zuckerberg said on a conference call on Wednesday.

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