Facebook has agreed to buy the mobile messaging company WhatsApp for $19bn (£11.4bn), the social network has announced.
The company said in a statement that it would pay $4bn (£2.4bn) in cash and $15bn (£9bn) in Facebook shares as part of the deal.
The app’s founders and employees will get $3bn (£1.8bn) of the shares as restricted stock that will vest over four years after the deal closes.
The purchase marks the largest single acquisition in Facebook’s 10-year history.
WhatsApp is a real-time mobile messaging service with more than 450 million monthly users. The app has more than one million new registered users each day.
WhatsApp will “continue to operate independently and retain its brand” despite the acquisition, Facebook said.
“WhatsApp is on a path to connect one billion people. The services that reach that milestone are all incredibly valuable,” Facebook CEO Mark Zuckerberg said.
Founded by a Ukrainian immigrant who dropped out of college, Jan Koum, and a Stanford alumnus, Brian Acton, WhatsApp is a Silicon Valley startup fairytale.
“I’ve known (WhatsApp CEO) Jan (Koum) for a long time and I’m excited to partner with him and his team to make the world more open and connected.”
He added that the service “doesn’t get as much attention in the US as it deserves because its community started off growing in Europe, India and Latin America.
“But WhatsApp is a very important and valuable worldwide communication network.
“In fact, WhatsApp is the only widely used app we’ve ever seen that has more engagement and a higher percent of people using it daily than Facebook itself.”
The acquisition will also see Mr Koum – a former Yahoo! engineer – join Facebook’s board of directors.
“WhatsApp’s extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide,” Mr Koum said.
“We’re excited and honoured to partner with Mark and Facebook as we continue to bring our product to more people around the world.”
Facebook is known to make bold moves to thwart competitors – it famously bought Instagram for $1bn after a weekend of negotiations.
Trump Comments on Stock Market’s latest drop – says it’s ‘peanuts’
Trump says Tuesday’s market drop is ‘peanuts’
President Donald Trump played down the stock market’s losses on Tuesday as “peanuts” when compared with the importance of striking a good deal with China and the gains since his election.
The Dow Jones Industrial Average “was about 16,000 or 15,000 and now it’s almost at 30,000,” Trump said at the NATO summit in London. “It’s going to be at 30,000.”
“If the stock market goes up or down — I don’t watch the stock market. I watch jobs. Jobs are what I watch,” he added. Today’s move is “peanuts compared to — we have picked up record numbers so that’s OK. That’s the way I feel.”
The major stock indexes slid Tuesday after Trump said he thinks it would be a good idea to delay signing a trade deal with China after the 2020 presidential election. The Dow Jones Industrial Average fell more than 450 points at its lows on Tuesday, led lower by trade-vulnerable Apple, Caterpillar and 3M.
“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now, and we will see whether or not the deal is going to be right,” Trump told reporters before U.S. markets opened Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no. … In some ways, I think it is better to wait until after the election if you want to know the truth.”
Despite his assurances that he doesn’t watch the market’s daily moves, Trump often tweets within hours of when the U.S. equity market reaches an all-time high. He has tweeted the keyword “stock market” 107 times since his inauguration
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11 kids quotes we’re all feeling
Ok so there’s always that time when you just wish so bad you could straight up say whats on your mind, but you know you really shouldn’t, so you don’t. Well leave it up to kids to say exactly what you’re feeling, no hesitation or regret. Check out these kids quotes that say everything you wish you could!
Why do kids say the darndest things? Comment with your favorite!
How to become a better businessman in 6 steps; Priceless advice from Entrepreneurs
Become a better businessman in 6 steps following this priceless advice from accomplished entrepreneurs.
- “Do something you’re very passionate about, and don’t try to chase what is the hot passion of the day.”
Jeff Bezos accentuates having passion for what you are doing, because if you don’t love it you are much more likely to give up. It’s hard to take an idea and turn it into reality, especially by yourself or when people whom you respect tell you it can’t be done. The passion and love you give to your project will determine it’s success rate over time.
- “Don’t let people who you may respect and who you believe know what they are talking about tell you that it can’t be done.”
Pierre Omidyar continues to say that often they will tell you it can’t be done and that’s only because they don’t have the courage to try it.
- “If you know exactly who you want to be, you need to spend as much time [as possible] with people that are actually that already.”
This advice from Gary Vaynerchuk is actually priceless when it comes to success in the business world. Think as well “It’s not what you know but who you know,” and surround yourself with people you look up to. Human’s adapt to their surroundings quickly, and soon you won’t just want to be an entrepreneur, you will also know how to act like one.
- “Come up with 10 new ideas every day.”
Coming up with at least 10 new ideas every day will keep your “idea muscle” in shape, which is critical for an entrepreneur in order to keep going and stay ahead of the fast paced business world. James Altucher continues to say that once you’ve done this for about 6 months you will be an idea machine. New ideas keep passionate projects alive and ensure growth in every direction.
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- Realize that, “naturally, nobody is interested in your ideas. You have to persuade them, and you have to show them that you are the one person out there that can do it.”
Robert Greene, an American author known for his books on strategy, also says that “no one is really going to help you or give you direction.” Realizing this sooner than others will give you a head start and the ability to stop looking for recognition in others. Instead, you can focus on your passion project and make it perfect, and the world will not be able to ignore it.
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- “Don’t think about ‘how do I get big fast.’ That will happen if you build something meaningful and important.”
How to encourage teamwork in your organisation
Danae Ringelmann’s advice is not something to skip. If you rush your ideas or your product you will be relying on luck more than anything to create success for you. While luck is certainly involved in alot of things, relying on it or betting on it to ‘get big fast’ doesn’t help you become a better businessman. Being proud of what you create, instilling passion into your work, and working hard will ensure success more than anything.
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