Founder of Facebook, Mark Zuckerberg has announced after the close of the market on Wednesday that it has acquired mobile messaging service WhatsApp for $19 billion.
The company bought WhatsApp $4 billion in cash, about $12 billion in Facebook stock, and $3 billion in restricted shares, to pay out to WhatsApp employees over the next four years.
Facebook says it is keeping WhatsApp as a separate service, just as it did with Instagram, which it bought for about $715.3 million.
According to statement credited to Zuckerberg, ‘our mission is to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably.
WhatsApp has more than 450 million monthly active users. In comparison, Twitter had 241 million users at the end of 2014.
Facebook CEO Mark Zuckerberg says WhatsApp is on path to reach a billion users.
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