Facebook has entered into an agreement to purchase WhatsApp, the massively popular messaging client, for $16 billion in cash and stock. A document filed with the SEC today confirms the huge purchase. Facebook says WhatsApp will continue to operate independently after the acquisition, but claims the deal "accelerates Facebook’s ability to bring connectivity and utility to the world."
In a press release announcing the monumental buyout, CEO Mark Zuckerberg said, "WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable." Over 450 million people use WhatsApp each month, according to statistics in the press release, with 70 percent of those users active on a given day.
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