Today, Facebook has entered into an agreement to purchase WhatsApp, the very popular messaging client, for $16 billion in stocks and cash. A document filed with the SEC confirms the huge purchase.
In a press release Facebook CEO Mark Zuckerburg said:
"WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable."
Over 450 million people use WhatsApp each month, with 70% of those users active everyday. As apart of the deal, Jan Koum, WhatsApp CEO and co-founder, will join Facebook's board of directors. The WhatsApp team will remain stationed in Mountain View California. Koum wrote in a blog post:
"Doing this will give WhatsApp the flexibility to grow and expand, while giving me, Brian, and the rest of our team more time to focus on building a communications service that’s as fast, affordable and personal as possible."
According to Koum, users do not need to worry about ads "interrupting your communication." The app will stay autonomous and nothing will change for its users.