Facebook to buy out WhatsApp

facebook acquire WhatsApp
Facebook announced to acquire WhatsApp along with its whole employees on February 19, 2014, when WhatsApp co-founder and CEO Jan Koum joined Facebook board of directors.

WhatsApp is mobile messageing system, used to send message to any mobile IPhone, BlackBerry, Android, Windows Phone and Nokia free of cost. It has 55 employees including its founder. It is used by around 450 million people world wide. Around 1 million people register it everyday.

Facebook acquire WhatsApp at $16 billion which includes $4 billion in cash and around 183,865,778 class A shares (worth $12 billion).Also Facebook announce $3 billion restricted shares to WhatsApp's founders and their employees.

Facebook existing messenger app will continue as standalone. Currently it has no effect due to WhatsApp. WhatsApp also continue to work as it is. It work does not get effected due to merger. Its headoffice remain same in Mountain View, CA.

As per agreement, if deals gets cancelled due to any reason, facebook has to pay whatsApp a fee of $1 billion in cash and class A common stock worth $1 billion based on average closing price of ten trading days.

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