BY admin | February 21, 2014
Social networking giant Facebook is set to marry WhatsApp by paying $19 billion dowry. So is it Whatsbook or Faceapp?
The report of Facebook acquiring WhatsApp has gone viral on social networking site. As the news surfaced Facebook users commented on the development. A FB user in India wrote: “24 years back one night I slept in Kuwait and by the time I woke up in morning, we were part of Iraq. Felt the same way today… #Facebook #Whatsapp.
It is too early to jump to conclusion. Right now the deal is being termed the largest acquisition by the California-based giant Facebook. It is understood that the deal will close at the end of this financial year. Besides, there are riders also added to the deal.
“In the event of termination of the merger agreement under certain circumstances principally related to a failure to obtain required regulatory approvals, the merger agreement provides for Facebook to pay WhatsApp a fee of $1 billion in cash,” Facebook said. The total amount of the deal is at $19 billion. $4 billion is in cash and $12 billion in Facebook shares. Also, another $3 billion in restricted stock has been added.
Whataspp is all the rage. With 450 million monthly active users, its registered users have been increasing per day by more than one million. Moreover, when it comes to monthly user base then Whatsapp is placed at the top even that of Facebook (145 million), Gmail (123 million), Twitter (54 million) and Skype (52 million).