Facebook finally buys WhatsApp
The mobile messaging service is a veritable snip at $22 billion for Facebook, who could probably buy the moon right now.
WhatsApp founder Jan Koum will receive nearly $2 billion in stock, vesting over a four-year period, as an inducement. He'll get $1 million a year salary too, which is not to be sniffed at is it? Oh and he will receive 24.9 million Facebook restricted stock units, worth roughly $1.9 billion at Monday's share price.
The messaging app has more than 600 million users, most of them of the nipper variety, which allows them to instant message without the squares gatecrashing their scene.
Facebook paid $4.59 billion in cash and 178 million shares of its stock for WhatsApp, as well 46 million of grants in restricted stock units for WhatsApp employees over a four year period.
WhatsApp, which has more than 70 employees, will continue to be based at its Mountain View, California, location.
With Facebook buying out and swallowing up around 40 companies now, including Oculus VR, Instagram and Spool, it seems that WhatsApp isn't going to be the end of their acquisitions. Is someone checking that Zuckerberg hasn't gone all Hank Scorpio in a secret mountain lair?