Despite being turned down for jobs at both Facebook and Twitter in the past, WhatsApp co-founder Brian Acton has truly had the last laugh after he and partner Jan Koum sold the messaging app to Zuckerberg's company for a sweet $19bn.
Though one left the Ukraine for the US at 16 and had to live off food stamps for much of his early life and the other has been turned down for jobs at both Facebook and Twitter in the past, WhatsApp co-founders Jan Koum and Brian Acton have truly had the last laugh after selling their messaging app to Zuckerberg’s company for a sweet $19bn.
With more than 450 million monthly active users worldwide and over 320 million daily active users, it’s no surprise Facebook wanted to get its hands on the text messaging replacement service, especially in light of its rejected bid for Snapchat last year (that was, admittedly, $16bn less than its offer to Whatsapp).
Pledging to purchase the app for $12 billion in stock, $4 billion in cash and $3 billion in restricted stock units to be granted to WhatsApp’s founders and employees that will vest over the next four years, Facebook has also snapped up CEO Jan Koum for its Board of Directors, and has assured users Whatsapp will ‘continue to operate independently and retain its brand’.
“WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable,” said Mark Zuckerberg, Facebook founder and CEO. “I’ve known Jan for a long time and I’m excited to partner with him and his team to make the world more open and connected.”
Even if the merger falls through and regulators forbid it, Facebook has said it will still pay WhatsApp $1 billion in cash and $1 billion in stock.
Whatsapp was also understandably quick to assure those who have threatened to ditch the service that nothing will change, many fear future monetisation efforts as a result of the acquisition, such as ads and direct messaging, and are concerned that the dominant social media expert will now have access to their personal conversations.
