Yes, we meant billion, not million.
In February 2014, Facebook purchased WhatsApp for 19$ billion. The acquisition price was astonishing to Wall Street and Main Street since the app didn’t have any revenue and wasn’t very popular in the United States.
Jan Koum and Brian Acton were the founders of WhatsApp, and after the purchase was sealed, Koum kept around 6.8$ billion and his co-founder, former Yahoo engineer Acton kept around 3.5$ billion after taxes!
This just shows us the power of social media these days and the power of easy to use messaging apps.
There were a few messaging apps before Facebook messenger or WhatsApp, such as ICQ (I SEEK YOU), AOL messenger, and of course Skype.
However, the simplicity and the added features WhatsApp added were worth an amazing 19$ billion in the eyes of Mark Zuckerberg and the rest of the Facebook board of directors.
What do you think will happen with the social media world?
Do you think Facebook is creating a monopoly or do you believe new and younger startups can do to Facebook what Facebook did to the world in 2004?