Facebook buys messaging App WhatsApp for USD 19 billion
Facebook , on 20-Feb-2014, agreed to buy world's most popular mobile messaging service provider WhatsApp for USD19 billion (£11.4bn) in cash and shares making it the company's largest acquisition. WhatsApp has more than 450 million monthly users and is popular with people looking to avoid text messaging charges. WhatsApp currently available for free of cost in App stores and they are charging some money after 1 year. As per the terms and conditions of the deal, all the fifty five employees of WhatsApp including its founders Brian Acton and Jan Koum will be granted restricted shares worth USD 3 billion to pay out over the next four years. Mark Zuckerberg Facebook CEO posted on his Wall, explaining why he bought WhatsApp.