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February 20, 2014 03:08 am GMT
Facebook is purchasing messaging giant WhatsApp for $16B in cash and stock, according to a regulatory filing. The deal is being cut for $12B in Facebook shares, $4B in cash and an additional $3B in RSUs for employee retention. A termination fee is attached to the deal that would cost Facebook $1B in cash and $1B in shares if the deal fails to pass regulatory muster. Facebook has posted on its blog, detailing the reasoning behind the acquisition as well. The post notes that WhatsApp will continue to operate independently and retain its brand. In addition,. WhatsApp co-founder and CEO Jan Koum will join Facebook’s board. Facebook notes that WhatsApp has over 450M MAUs, with 70% of those active each day. In a staggering comparison, Facebook also notes that the messaging volume of WhatsApp approaches the SMS volume of the entire global telecom industry — and that it’s adding 1M users a day. “WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable,” said Mark Zuckerberg, Facebook founder and CEO in a statement. “WhatsApp had every option in the world,” Zuckerberg continued in a post to his Facebook page, “so I’m thrilled that they chose to work with us. I’m looking forward to what Facebook and WhatsApp can do together, and to developing great new mobile services that give people even more options for connecting.I’ve also known Jan for a long time, and I know that we both share the vision of making the world more open and connected. I’m particularly happy that Jan has agreed to join the Facebook board and partner with me to shape Facebook’s future as well as WhatsApp’s.” WhatsApp message volume growth is still accelerating. Has probably now overtaken SMS. pic.twitter.com/KsR85Mplrt — Benedict Evans (@BenedictEvans) January 20, 2014 Jan Koum, WhatsApp co-founder and CEO, said, “WhatsApp’s extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide.” Facebook specifically calls out its deal with Instagram as a template for how it will deal with WhatsApp: Facebook fosters an environment where independent-minded entrepreneurs can build companies, set their own direction and focus on growth while also benefiting from Facebook’s expertise, resources and scale. This approach is working well with Instagram, and WhatsApp will operate in this manner. WhatsApp’s brand will be maintained; its headquarters will remain in Mountain
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/BcBSL4hkZ8U/
Facebook Buying WhatsApp For $16B In Cash And Stock And $3B In RSUs, Will Keep The Messaging Service Independent
Facebook is purchasing messaging giant WhatsApp for $16B in cash and stock, according to a regulatory filing. The deal is being cut for $12B in Facebook shares, $4B in cash and an additional $3B in RSUs for employee retention. A termination fee is attached to the deal that would cost Facebook $1B in cash and $1B in shares if the deal fails to pass regulatory muster. Facebook has posted on its blog, detailing the reasoning behind the acquisition as well. The post notes that WhatsApp will continue to operate independently and retain its brand. In addition,. WhatsApp co-founder and CEO Jan Koum will join Facebook’s board. Facebook notes that WhatsApp has over 450M MAUs, with 70% of those active each day. In a staggering comparison, Facebook also notes that the messaging volume of WhatsApp approaches the SMS volume of the entire global telecom industry — and that it’s adding 1M users a day. “WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable,” said Mark Zuckerberg, Facebook founder and CEO in a statement. “WhatsApp had every option in the world,” Zuckerberg continued in a post to his Facebook page, “so I’m thrilled that they chose to work with us. I’m looking forward to what Facebook and WhatsApp can do together, and to developing great new mobile services that give people even more options for connecting.I’ve also known Jan for a long time, and I know that we both share the vision of making the world more open and connected. I’m particularly happy that Jan has agreed to join the Facebook board and partner with me to shape Facebook’s future as well as WhatsApp’s.” WhatsApp message volume growth is still accelerating. Has probably now overtaken SMS. pic.twitter.com/KsR85Mplrt — Benedict Evans (@BenedictEvans) January 20, 2014 Jan Koum, WhatsApp co-founder and CEO, said, “WhatsApp’s extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide.” Facebook specifically calls out its deal with Instagram as a template for how it will deal with WhatsApp: Facebook fosters an environment where independent-minded entrepreneurs can build companies, set their own direction and focus on growth while also benefiting from Facebook’s expertise, resources and scale. This approach is working well with Instagram, and WhatsApp will operate in this manner. WhatsApp’s brand will be maintained; its headquarters will remain in MountainOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/BcBSL4hkZ8U/
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