Facebook plans to acquire the messaging service WhatsApp, the
company announced on Wednesday.
The move marks the social giant’s biggest acquisition to date, as
Facebook paid $16 billion in cash and stock for the company. In
addition, the deal includes another $3 billion in restricted
stock units for WhatsApp employees, which will vest over a period
“WhatsApp is on a path to connect 1 billion people. The services
that reach that milestone are all incredibly valuable,” Facebook
CEO Mark Zuckerberg said in a statement.
That’s a lot of money.