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Guru3D.com » News » Facebook to buy WhatsApp for $19 billion

Facebook to buy WhatsApp for $19 billion

by Hilbert Hagedoorn on: 02/20/2014 08:30 AM | source: | 33 comment(s)
Facebook to buy WhatsApp for $19 billion

Say goodbye to your free WhatsApp APP. Facebook will buy fast-growing mobile-messaging startup WhatsApp for $19 billion in cash and stock, as the world's largest social network looks for ways to boost its popularity, especially among a younger crowd.

The acquisition of the hot messaging service with more than 450 million users around the world stunned many Silicon Valley observers with its lofty price tag.

But it underscores Facebook's determination to win the market for messaging, an indispensable utility in a mobile era.

Combining text messaging and social networking, messaging apps provide a quick way for smartphone users to trade everything from brief texts to flirtatious pictures to YouTube clips — bypassing the need to pay wireless carriers for messaging services.

And it helps Facebook tap teens who will eschew the mainstream social networks and prefer WhatsApp and rivals such as Line and WeChat, which have exploded in size as mobile messaging takes off.

"People are calling them 'Facebook Nevers,'" said Jeremy Liew, a partner at Lightspeed and an early investor in Snapchat.

WhatsApp is adding about a million users per day, Facebook co-founder and Chief Executive Officer Mark Zuckerberg said on his page on Wednesday.

"WhatsApp will complement our existing chat and messaging services to provide new tools for our community," he wrote on his Facebook page. "Since WhatsApp and (Facebook) Messenger serve such different and important users, we will continue investing in both."

Smartphone-based messaging apps are now sweeping across North America, Asia and Europe.

"Communication is the one thing that you have to use daily, and it has a strong network effect," said Jonathan Teo, an early investor in Snapchat, another red-hot messaging company that flirted year ago with a multibillion dollar acquisition offer from Facebook.

"Facebook is more about content and has not yet fully figured out communication."

Even so, he balked at the price tag.

As part of the deal, WhatsApp co-founder and Chief Executive Officer Jan Koum will join Facebook's board, and the social network will grant an additional $3 billion worth of restricted stock units to WhatsApp's founders, including Koum.

That is on top of the $16 billion in cash and stock that Facebook will pay.

"Goodness gracious, it's a good deal for WhatsApp," Teo said.







« AMD Enables Gamers Rewards Program · Facebook to buy WhatsApp for $19 billion · Microsoft offers Fix it patch for IE9 and IE10 zero-day exploit »

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Tripkebab
Senior Member



Posts: 140
Joined: 2011-01-30

#4769301 Posted on: 02/20/2014 10:55 AM
Goodbye Whatsapp, you will be missed.

S_IV
Senior Member



Posts: 161
Joined: 2010-04-14

#4769302 Posted on: 02/20/2014 11:00 AM
Pathetic, period.

kosh_neranek
Senior Member



Posts: 341
Joined: 2012-12-31

#4769303 Posted on: 02/20/2014 11:05 AM
SH********T!!! :puke2:

(.)(.)
Senior Member



Posts: 9094
Joined: 2010-11-10

#4769315 Posted on: 02/20/2014 11:25 AM
Oh bugger, they beat me to it.

I guess ill just have to make my own app, i think i'll call Fuki'mBoring.

H83
Senior Member



Posts: 3375
Joined: 2009-09-08

#4769335 Posted on: 02/20/2014 12:16 PM
It´s amazing how some guys can turn into millionaires just by doing some app and then selling it for billions!!! Talk about being lucky!

Too bad i can´t code...

Also a new tech bubble must be about to explode...

7 pages 1 2 3 4 > »


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