Facebook buys WhatsApp for $19 billion
On Wednesday, Mark Zuckerberg announced the acquiring of WhatsApp in a $19 billion deal.
He officially stated: “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. The combination will help accelerate growth and user engagement across both companies.”
WhatsApp has a total of 450 million monthly users worldwide, and 70 percent of those are active on a daily basis. However, the app prides itself on being an ad-free and pro-privacy service.
WhatsApp’s chief executive officer, Jan Koum, said to Yahoo on Wednesday: “You can still count on absolutely no ads.”
The only revenue the app currently has is a 99 cent (59 pence) yearly subscription fee in some countries after using the service for a year.
Unsurprisingly, the social media giant has come under fire for the move, with Facebook shares dropping by 5pc after the deal was announced and many websites running a feature on why the deal is a bad idea.
The Telegraph posted an article outlining what the large amount of money could have gone towards on a worldwide scale, with choice options being bailing out Greece’s economy and fighting the HIV epidemic for a year.