Facebook Buys WhatsApp For $19 Billion

News

By: Camille Augustin / February 20, 2014

Facebook brought out the checkbook to acquire WhatsApp for $19 billion today (Feb. 20), adding the popular messaging program to their roster, which includes Instagram.

The five-years-and-running service allows you to send text messages “over mobile broadband,” CNN reports. However, users are allowed to bypass the rates of standard text messaging fees.

The company, ran by CEO Jan Koum, received $4 billion in money and $12 billion in stocks.

Read the full report here.