Facebook CEO Mark Zuckerberg Explains Why his Company Paid $19 Billion for WhatsApp

Facebook CEO and founder Mark Zuckerberg has released a statement explaining why his company has paid $19 Billion for messaging service WhatsApp.

The $19bn deal between Facebook and Whatsapp has left the people talking about its worthiness. Though, Facebook founder and CEO Mark Zuckerberg has explained as to why his company has agreed to pay a whopping $19bn to acquire the messaging service WhatsApp. Photo: Simon Heseltine/Flickr

In an acquisition move bigger than Google, Microsoft or Apple have ever done, Facebook has announced to buy mobile messaging service WhatsApp for $19 billion.

Facebook CEO Mark Zuckerberg, in a statement released Wednesday, explained why his company is paying $19 billion – $12 billion in Facebook stock and $4 billion in cash – for WhatsApp.

In addition to the $19 billion deal, WhatsApp founders and employees would be granted restricted stock worth $3 billion. The deal is expected to close later this year.

Google’s biggest acquisition Motorola Mobility was at $12.5 billion while Microsoft’s largest was Skype at $8.5 billion. Apple has never done a deal above $1 billion.

Here is the press release in full: “I’m excited to announce that we’ve agreed to acquire WhatsApp and that their entire team will be joining us at Facebook.

Our mission is to make the world more open and connected. We do this by building services that help people share any type of content with any group of people they want. WhatsApp will help us do this by continuing to develop a service that people around the world love to use every day.

WhatsApp is a simple, fast and reliable mobile messaging service that is used by over 450m people on every major mobile platform.

More than 1m people sign up for WhatsApp every day and it is on its way to connecting 1bn people. More and more people rely on WhatsApp to communicate with all of their contacts every day.

WhatsApp will continue to operate independently within Facebook. The product roadmap will remain unchanged and the team is going to stay in Mountain View.

Over the next few years, we’re going to work hard to help WhatsApp grow and connect the whole world. We also expect that WhatsApp will add to our efforts forInternet.org, our partnership to make basic internet services affordable for everyone.

WhatsApp will complement our existing chat and messaging services to provide new tools for our community. Facebook Messenger is widely used for chatting with your Facebook friends, and WhatsApp for communicating with all of your contacts and small groups of people.

Since WhatsApp and Messenger serve such different and important uses, we will continue investing in both and making them each great products for everyone.

WhatsApp had every option in the world, so I’m thrilled that they chose to work with us. I’m looking forward to what Facebook and WhatsApp can do together, and to developing great new mobile services that give people even more options for connecting.

I’ve also known Jan [Koum, WhatsApp founder and chief executive] for a long time, and I know that we both share the vision of making the world more open and connected. I’m particularly happy that Jan has agreed to join the Facebook board and partner with me to shape Facebook’s future as well as WhatsApp’s.

Jan and the WhatsApp team have done some amazing work to connect almost half a billion people. I can’t wait for them to join Facebook and help us connect the rest of the world.”

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