Facebook has finalised an agreement to purchase WhatsApp for a massive $16 billion in both cash and stock. The purchase was revealed in a document filled with the SEC today. In a press release Facebook CEO Mark Zuckerberg said:
WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable.
Facebook also added that WhatsApp will continue to operate independently and "accelerates Facebook’s ability to bring connectivity and utility to the world. Co-Founder and CEO Jan Koum will also join Facebook’s board of directors. In a blog post he said:
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.
Kuam also added that users shouldn't worry about ads interrupting communication.
There would have been no partnership between our two companies if we had to compromise on the core principles that will always define our company, our vision and our product.