Facebook officially sealed its massive purchase of WhatsApp, a report filed with the U.S. Securities and Exchange Commission stated, with a final price of about $22 billion. The popular instant-messaging app has been operating independently since agreeing to an acquisition by the social-media giant back in February, but the finalizing of the deal is undoubtedly a step toward greater support, and control, from Facebook.
Ukrainian immigrant Jan Koum and former Yahoo engineer Brian Acton, the founders of WhatsApp, pocketed $6.8 billion and $3.5 billion in the deal respectively, according to Forbes. Koum will also get a seat on the board, where his $1 salary will match that of Facebook CEO Mark Zuckerberg.
The final hurdle in the deal was crossed on Friday, when the E.U. approved the purchase after much resistance from Europe’s telecommunications industry.
“We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market,” the Wall Street Journal reported the E.U.’s antitrust chief Joaquín Almunia as stating.
WhatsApp, with over 600 million users across Europe, Asia and the Americas, presents an immense opportunity for Facebook, although how it will be used remains to be seen.
- The Man Who Thinks He Can Live Forever
- Why We Can't Get Over the Roman Empire
- The Final Season of Netflix’s Sex Education Sends Off a Beloved Cast in Style
- How Russia Is Recruiting Cubans to Fight in Ukraine
- The Case for Mediocrity
- Paul Hollywood Answers All of Your Questions About The Great British Baking Show
- How Canada and India's Relationship Crumbled
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
