Social networking giant, Facebook, as acquired the second largest messaging app, WhatsApp. Right behind their own messaging app in popularity, do you think FB did this more out of fear? Even if that’s so all WhatsApp employees are able to keep their jobs! Read more on the story below and head on over TO THE APP to voice your opinion. What messaging app to you use?
That’s a stunning sum for the five-year old company. But WhatsApp has been able to hold its weight against messaging heavyweights like Twitter (TWTR), Google (GOOG, Fortune 500) and Microsoft’s (MSFT, Fortune 500) Skype. WhatsApp has upwards of 450 million users, and it is adding an additional million users every day.
Referring to WhatsApp’s soaring growth, Facebook CEO Mark Zuckerberg said on a conference call, “No one in the history of the world has done anything like that.” WhatsApp is the most popular messaging app for smartphones, according to OnDevice Research.
Buying WhatsApp will only bolster Facebook’s already strong position in the crowded messaging world. Messenger, Facebook’s a standalone messaging app for mobile devices, is second only to WhatsApp in its share of the smartphone market.
Like Instagram, WhatsApp will function as an autonomous unit within Facebook, with all the existing employees coming in as part of the deal.
Facebook (FB, Fortune 500) said it will pay WhatsApp $4 billion in cash and $12 billion in stock. WhatsApp’s founders and staff will be eligible for for another $3 billion in stock grants to be paid out if they remain employed by Facebook for four years. Koum will also join Facebook’s board of directors.
Read more on CNN.com…