Business Facebook to buy WhatsApp for $19bn

Vunderkind

Social Member
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Social media network Facebook has bought messaging application WhatsApp messenger in a deal worth $19bn in cash and shares.

It is Facebook’s biggest acquisition to date. Facebook’s previous biggest purchase was Instagram, which it bought for $1 bn in 2012.

The WhatsApp messaging app has more than 450 million users monthly and is popular for people looking to avoid the cost of text messaging.

Facebook’s founder, Mark Zuckerberg, in a statement announcing the deal, described WhatsApp’s services as “incredibly valuable.”

WhatsApp claims that it currently has a registration rate of 1 million new users daily. It makes its money by charging its users a subscription fee of $1 per year, although it also has a free model.
 
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