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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

Facebook Buys WhatsApp for $19 Billion

Facebook buys WhatsApp for $19 billionFacebook is buying mobile messaging service WhatsApp for $19 billion in cash and stock, by far the company’s largest acquisition and bigger than any that Google, Microsoft or Apple have ever done. The world’s biggest social networking company said Wednesday that it is paying $12 billion in Facebook stock and $4 billion in cash for WhatsApp. In addition, the app’s founders and employees — 55 in all — will be granted restricted stock worth $3 billion that will vest over four years after the deal closes. In a filing to the Security and Exchange Commission (SEC), Facebook announced the acquisition. “The acquisition supports Facebook and WhatsApp’s shared mission to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably. The combination will help accelerate growth and user engagement across both companies,” the filing stated.
The deal will see WhatsApp run semi-independently, much like Instagram. The chat service will maintain its brand and existing offices, but it will take advantage of Facebook’s “expertise, resources and scale.” It’s safe to say that the combined entity will have a lot of clout should the deal close later this year. WhatsApp already has over 450 million active users every month; combine that with Facebook Messenger and competitors like Line suddenly appear tiny by comparison. “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. “I’ve known Jan for a long time and I’m excited to partner with him and his team to make the world more open and connected.” The company also announced that WhatsApp’s cofounder and CEO Jan Koum would join Facebook’s board of directors.