Skip to main content
  1. Tech
  2. Gadgets & Tech
  3. Tech Gear

Facebook CEO spends big to acquire smartphone application

See also

On Feb. 19, Facebook co-founder Mark Zuckerberg announced his plans to buy the mobile messaging service WhatsApp for $19 billion. He will also bring the entire WhatsApp team on board as Facebook staff and appoint its founder and CEO, Jan Koum, as a Facebook board member (The Telegraph).

Zuckerberg is currently investing over half of his net worth, which currently stands at $27.9 billion (Bloomberg Billionaires). His payment plan consists of: $4 billion in cash, approximately $12 billion in Facebook stock, and $3 billion in restricted shares, to pay out Whats App over the next four years.

What’s App’s messenger allows various smartphones to send text messages and photographs to each other without being charged the SMS fees doled out by phone carriers. Such smartphones include: iPhone, Blackberry, and smart phones with an Android operating system. The messenger is free to use for the first year and a dollar for each additional year (Bloomberg Businessweek).

“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 that by continuing to develop a service that people around the world love to use every day,” said the Facebook CEO.

According to Facebook, 450 million users currently use WhatsApp on a daily basis; and the smartphone application is expected to eventually connect 1 billion people. Zuckerberg plans on having the new application complement Facebook’s current messenger by using WhatsApp to communicate with one’s phone contacts, while having Facebook Messenger communicate with one’s Facebook friends. Zuckerberg expressed confidence and excitement with the new business merge. ”WhatsApp had every option in the world, so I’m thrilled 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 (The Telegraph)."


Don't Miss

  • Massive
    Ubisoft Massive exclusive: 'The Division', PS4 & Xbox One, Activision to Ubisoft & more
    Games Exclusive
  • iPhone
    Get your wallet ready: The next iPhone could cost $100 more than your last one
    Tech Buzz
  • Civ
    Need to catch up on 'Sid Meier's Civilization'? Here is everything you need to know
    Games Feature
  • Google Glass
    See how Google Glass is letting sick kids go to the zoo without leaving the hospital
    Tech News
  • Upcoming
    These are 2014's biggest PS4, Xbox One and Wii U games
    Games Feature
  • Google
    Google has filed for a patent to develop contact lenses capable of taking photos

User login

Log in
Sign in with your email and password. Or reset your password.
Write for us
Interested in becoming an Examiner and sharing your experience and passion? We're always looking for quality writers. Find out more about and apply today!