WhatsApp Acquired By Facebook For $19 Billion, Social Network’s Purchase Pre-MWC 2014 Shows Intent To Dominate Mobile

WhatsApp, the intensely popular cross-platform messaging application that adds 1 million users per day, will officially belong to Facebook by the end of this year. The 1 billion user strong social network behemoth has agreed to purchase WhatsApp for $16 billion, one-third of which consists of Facebook shares with the remaining $4 billion in cash.

Founders of the five-year old company is also getting another $3 billion in stock grants to be paid out if they remain part of Facebook for four years. WhatsApp CEO Jon Koum will be joining Facebook’s board of directors, CNN Money reported.

In a report by Phone Arena, Facebook noted that the acquisition will boost “its ability to bring connectivity and utility to the world.”

The move is in line with Facebook’s strategy to dominate mobile. Company CEO Mark Zuckerberg will be the keynote speaker at the opening event of the Mobile World Congress this year in Barcelona, Spain.

Phone Arena notes that Facebook has more than 450 million users combined on all important mobile platforms, including Android, iOS, Windows Phone and Blackberry. The popular mobile app is also available to some Asha and Symbian users.

"WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable. I've known Jan for a long time and I'm excited to partner with him and his team to make the world more open and connected," says Mark Zuckeber about WhatsApp and its founder, Jan Koum.