Facebook buying WhatsApp for $16 billion
The mobile messaging app has 450 million monthly users
By James Niccolai | Published: 22:23, 19 February 2014
Facebook has agreed to buy mobile messaging app WhatsApp for US$16 billion in cash and stock, the social network said Wednesday.
Facebook plans to buy the company for $12 billion in Facebook shares and $4 billion in cash. WhatsApp will continue to operate "independently" and retain its brand, Facebook said.
WhatsApp has 450 million monthly users, and 70 percent of those people access the service daily, Facebook said.
Related Articles on Techworld
"WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable," Facebook CEO Mark Zuckerberg said in a statement.
(More to follow)