Facebook CEO Mark Zuckerberg has added yet another dimension to his ever-growing empire with the acquisition of messenger giants WhatsApp. Facebook has reportedly paid a hefty sum of 19 million USD, which is further broken up into 12 million USD in stock and 4 million USD in cash, with an additional 3 million USD in stock grants. Although Facebook is growing day-by-day, it is a wise decision on part of Zuckerberg, who understood the danger of having WhatsApp as its competitor. WhatsApp has taken the world by storm over the past 5 years with over 450 million users in such a short span of time. It is believed that over 1 million people sign up for WhatsAppeveryday!
What made Zuckerberg acquire WhatsApp? I’m guessing it’s the massive growth potential that WhatsApp has. WhatsApp is by far the most popular messenger service in the world and it was only getting stronger. The best part is that it is free, easy to use and hence the popularity.
Mark Zuckerberg, on acquiring WhatsApp stated with delight “WhatsApp will complement our existing chat and messaging services to provide new tools for our community. Facebook Messenger is widely used for chatting with your Facebook friends, and WhatsApp for communicating with all of your contacts and small groups of people. Since WhatsApp and Messenger serve such different and important uses, we will continue investing in both and making them each great products for everyone. WhatsApp had every option in the world, so I’m thrilled that they chose to work with us. I’m looking forward to what Facebook and WhatsApp can do together, and to developing great new mobile services that give people even more options for connecting.”
All in all, in the immortal words of some mortal, “when faced with competition, you have two options-buy it or bury it!” I think this is huge for Facebook and it will only strengthen them in the long run.
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