Facebook completes WhatsApp acquisition
Facebook earlier today announced in an SEC filing that it has completed the acquisition of messaging app WhatsApp. This marks the completion of process, which was started in February this year, when the social giant first revealed its intent to buy WhatsApp.
According to the SEC filing, as a part of the cash plus stock deal, Facebook has awarded 177,760,669 shares of its Class A common stock and $4.59 billion in cash to WhatsApp stakeholders as well as 45,941,775 units of restricted stock to WhatsApp employees.
WhatsApp co-founder and CEO Jan Koum has joined the Facebook board and will continue working on the messaging service as it will remain autonomous and operate independently.
As a WhatsApp user, you will notice no change and the service should continue working as usual.
To remind you, WhatsApp currently serves over 600 million users around the world with around 65 million present in the Indian market. (via)