Tuesday, October 21, 2014   

Facebook likes WhatsApp and pays US$16b
(02-20 10:22)

Facebook said it was buying the mobile messaging service WhatsApp for more than US$16 billion in cash and stock.
The deal adds the 450 million users of WhatsApp to the social network. It will operate independently with its own board.
It is Facebook's biggest acquisition and comes less than two years after the company raised US$16 billion in the richest tech sector public stock offering.
The purchase includes US$12 billion in Facebook shares and US$4 billion cash. It calls for an additional US$3 billion in restricted stock units to be granted to WhatsApp founders and employees that will vest over four years.
“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,'' said a Facebook statement.
Facebook reportedly sought to acquire another hot messaging firm, Snapchat, for $3 billion last year.
WhatsApp is a cross-platform mobile app which allows users to exchange messages without having to pay telecom charges.—AFP

   
Other Business breaking news:
Nikkei ends lower (51 mins ago)
Hang Seng edges up (52 mins ago)
Hang Seng down by lunch (10-21 12:25)
Amazon, Simon & Schuster sign book retail deal (10-21 12:09)
Japan air bag maker Takata plunges on US recall (10-21 12:08)
China economic growth falls to five-year low: govt (10-21 11:40)
Profit taking sends Nikkei lower by break (10-21 10:57)
Qatar to buy stake in Sogo's operator (10-20 13:03)
Hang Seng up at midday (10-20 12:37)
Nikkei soars 3pc by break (10-20 10:55)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.