Facebook has bought messaging application WhatsApp in a deal worth a total of 19 billion dollars in cash and shares.Facebook is buying huge messaging app WhatsApp for $12 billion in stock and $4 billion in cash.
Facebook set aside another $3 billion in restricted stock units to be granted to WhatsApp’s founders and employees that will vest over the next four years.
WhatsApp calls itself "a personal real-time messaging network allowing millions of people around the world to stay connected with their friends and family."
Basically, it's a text-messaging replacement.
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