Facebook to Buy WhatsApp for $16 Billion

Facebook has entered into an agreement to acquire WhatsApp, the popular messaging app, for $16 billion in cash and stock, according to a filing Wednesday.

The deal is by far Facebook's largest acquisition to date and comes after rumors in late 2012 and early 2013 that Facebook and Google were vying to buy the messaging service

"WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable," Mark Zuckerberg, Facebook's cofounder and CEO, said in a statement. "I've known Jan [Koum, WhatsApp cofounder] for a long time and I'm excited to partner with him and his team to make the world more open and connected." Read more...