BrandArena: Facebook Acquires WhatsApp message service for $16 bn

Thursday 20 February 2014

Facebook Acquires WhatsApp message service for $16 bn

Social networking company Facebook has acquired WhatsApp, a rapidly growing cross-platform mobile messaging company, for a total of approximately $16 billion, the biggest acquisition so far by Facebook.

In a statement, Facebook said the acquisition of WhatsApp would upsurge the company’s ability to bring connectivity and utility to the world. It said WhatsApp will continue to operate independently and retain its brand while WhatsApp co-founder and chief executive officer (CEO) Jan Koum will join Facebook’s board of directors.

“The acquisition supports Facebook and WhatsApp’s shared mission to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably. The combination will help accelerate growth and user engagement across both companies,” Facebook said in the statement.

Mark Zuckerberg, Facebook founder and CEO, said WhatsApp, which currently has more than 450 million monthly users, is on its way to connecting one billion people.

In Nigeria, WhatsApp has huge number of users.

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