NEWS: FACEBOOK BUYS WHATSAPP FOR $19 BILLION

Facebook Buys WhatsApp for $19 Billion

Facebook is minting a load of new millionaires, inking a deal last week to buy messaging application WhatsApp for a whopping $19 billion in cash and shares. By contrast, Facebook paid just $1 billion for photo sharing service Instagram in 2012. Founded five years ago by two former Yahoo! employees, one a Ukrainian immigrant who dropped out of college and the other a Stanford alumnus, WhatsApp has grown by leaps and bounds, amassing more than 450 million monthly users. Analysts predict the number of users to swell to 1 billion by 2015. WhatsApp’s 50 or so employees stand to benefit greatly from the deal, but industry insiders are not certain the investment will pay off for Facebook. More…Discuss

 

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