Say What?: Facebook Acquires WhatsApp For $19B
Facebook shelled out a ton of cash to buy up one of its chief rivals in mobile messaging.By Christian Bryant | February 19, 2014
In one of the most expensive tech acquisitions in the last decade, Facebook purchased mobile messaging app WhatsApp Wednesday for $19 billion.
WhatsApp allows users to exchange messages with each other over the Internet without having to pay wireless carriers for messaging. The company claims 450 million people use the service and that number is growing by a million every day.
That's a big deal for a company like Facebook, which said in a statement: "The acquisition supports Facebook and WhatsApp's shared mission to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably. The combination will help accelerate growth and user engagement across both companies."