Facebook has today announced that it will be buying the popular cross-platform social messaging platform Whatsapp for around $16 billion.
The deal was announced today as both parties reached an agreement: Whatsapp receives $4 billion in cash and $12 billion in Facebook stock. If, for whatever reason the deal falls through, Facebook have agreed to pay a fee of $2 billion in a mixture between cash and stock to Whatsapp.
Facebook was interested in the social messaging platform due to the incredible amount of growth that the service received, with figures touting that Whatsapp was adding around a million users per month to its platform.
Whatsapp will continue to operate as an independant company and keep their own branding, but will have Facebook members on the board. With Facebook messenger a big part of their service, it makes sense that eventually Whatsapp will be obsorbed into their own platform.