Just In
- 7 hrs ago Redmi Pad SE With 90Hz Display Launching on April 23 in India; Could Be Priced for Less Than Rs 20,000
- 8 hrs ago Motorola Edge 50 Fusion Launched with Snapdragon 6 Gen 1 SoC, Pantone Validated Cameras, IP68 Rating
- 8 hrs ago Motorola Edge 50 Ultra Launched with Snapdragon 8s Gen 3 SoC, 144Hz OLED Display, Wooden Back
- 10 hrs ago Garena Free Fire Max Redeem Codes for April 16: Get Access to the Latest In-game Loot
Don't Miss
- Finance 107% Returns: Tata's NBFC Doubles Investors Money, Rs 53,440 Profits On Rs 50K; Key Parameters To Buy/Sell
- Sports KKR vs RR Memes: Fans Take Potshot at KKR for Conceding Match after Scoring 223; Praises Jos Buttler's Knock
- Lifestyle Dr Sarvepalli Radhakrishnan Death Anniversary: Profound And Inspiring Quotes For Students
- Movies Bade Miyan Chote Miyan Vs Maidaan Box Office Collection Day 6: Akshay Kumar BEATS Ajay Devgn. Margin Is...
- News UAE Weather Report: Floods Hit Dubai, 18 Dead; Govt. Shuts Schools, Colleges
- Education UPSC Success Story: An IITian, A Government Job Holder at Railways, Quit the Job and Emerged as an IAS
- Automobiles Jeep Compass Gets More Powerful 268.3bhp Turbo Petrol Engine – Check Out All The Details Here
- Travel From Coconut Breaking on Head to Men Dressing as Women: 12 Unique Indian Rituals Explored
Facebook Finally Completes WhatsApp Acquisition at $22 Billion
Although, the process of Facebook's acquisition of WhatsApp started earlier this year around the end of February, the social media giant has finally closed the deal today.
Recommended: Top 10 Diwali 2014 Special Offers for Buying Best Deals on Android Smartphones
In other words, Facebook, today, completed its $22 billion (back in February it was mentioned as $19 Billion) worth a buy of mobile messaging application - WhatsApp. The acquisition cost has increased by $3 billion because of the increased value of Facebook's stock in recent months.
According to the SEC filing, the final price turned out to be $4.59 billion in cash and 177.7 million shares of Class A common Facebook stock, along with 45.9 million in restricted stock units provided to WhatsApp employees, giving the purchase a total value of just under $22 billion.
WhatsApp co-founders Jan Koum is also offered to become social network's board as part of the deal. Along with joining the Facebook board of directors, Jan Koum will remain chief of WhatsApp. However, Koum's salary will be a dollar a year, according to a documents filed with the US Securities and Exchange Commission. The symbolic annual pay mirrors to that of Facebook's chief Mark Zuckerberg.
Recommended: Nokia Lumia 730 First Look: A Nice ‘Selfie' Smartphone You Actually Want To Buy
Also, WhatsApp co-founder Brian Acton will remain with the company under terms of the acquisition, which promises "inducement grants" of millions of shares of stock that will incrementally vest during the coming four years for Koum and Acton if they remain with the company, according to Facebook.
In a statement explaining its approval of the USD 19 billon deal, the European Commission, the EU's executive arm, said Facebook and WhatsApp were "not close competitors" and that consumers would continue to have a "wide array of choices".
Stay tuned to GizBot for more updates!
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
3,999
-
2,500
-
3,599
-
8,893
-
13,999
-
32,999
-
9,990
-
12,999
-
25,377
-
23,490