Facebook now owns WhatsApp, purchased by $16 billion

After five years of work and accumulating more than 450 million active users worldwide, the team behind WhatsApp have sold the app to tech giant Facebook Inc. The start-up company was payed $16 billion for its WhatsApp app, $4 billion in cash and $12 billion worth of Facebook stock. Like when Facebook acquired Instagram, the WhatsApp team promised that nothing will be change in the app. The app will continue to have the same price, no ads, and a free one year version. The team restated in their blog post that WhatsApp currently have over 450 million monthly active users worldwide and over 320 million daily active users, revolutionizing communication for the 21st century.

(Source: SEC)