Facebook Completes $19bn WhatsApp Acquisition
Facebook has completed its bid to buy WhatsApp becoming the legal owner of the messaging app for Android and iOS smartphones.
After the $19-million deal was first rumoured and then officially confirmed back in February 2014, the purchase of WhatsApp got EU Commission approval last week and Facebook was able to seal the deal yesterday by also gaining the permission of the US Securities and Exchange Commission to complete the purchase.
Also See: EU Approve Facebook’s WhatsApp Buyout
Facebook has recently come under criticism over public privacy concerns on its own mobile Messenger app about the type of information it records and is currently working on a mobile payments system which will inevitably also raise a lot of questions about user safety. Thanks to the EUC and SEC Facebook receives final clearance in regards to the security of over half a billion users that it will pick up with its new acquisition (that user milestone was recorded in April 2014.)
It’s believed that WhatsApp will continue to be a stand-alone app owned by Facebook but not featuring Facebook branding and WhatsApp CEO and Co-Founder Jan Koum will become a Facebook board member as part of the buyout and reportedly match Mark Zuckerberg’s $1-million a year salary.