Facebook acquires WhatsApp for $16 Billion

Facebook acquires WhatsApp messaging app for a whopping $16 Billion. The deal includes $4 Billion in cash and the rest $12 Billion in Facebook shares. Facebook will also pay another $3 Billion in shares to WhatsApp employees over the course of next few years. According to the deal WhatsApp will continue working independently from Facebook however there will be greater collaboration between the Facebook Messenger and WhatsApp team to make "new tools for our community."

Jan Koum, WhatsApp co-founder and CEO, will be joining Facebook’s Board of Directors. 

"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," said Mark Zuckerberg, on the acquisition.

Facebook acquired Instagram for $1 Billion in 2012, making this the biggest acquisition by the company till date.