Home News Facebook Inks Deal With Whatsapp Founder For 19 Billion Dollars

Facebook Inks Deal With Whatsapp Founder For 19 Billion Dollars

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Jan Koum’s truly inspiring rags-to-riches story is taking headlines by storm.

Jan moved to the United States when he was 16 with his mom. Koum and his partner Brian Acton, were both rejected for jobs at Facebook before starting WhatsApp. They are best friends and former employees for Yahoo. The two met in school and immediately clicked. They soon realized with their foreign ties unless you had BBM or Skype, it was hard to communicate with loved ones in other countries without paying outrageous fees. So they came up with the great idea of whatsapp.

WhatsApp Messenger is a proprietary, cross-platform instant messaging subscription service for smartphones. In addition to text messaging, users can send each other images, video, and audio media messages as well as their location using integrated mapping features.

Yesterday it was officially announced that Facebook was acquiring WhatsApp for 19 Billion dollars. 4 Billion will be paid in cash and the other 12 billion will be paid in Facebook shares and an additional $3 billion in restricted stock units to be granted to WhatsApp founders and employees that will invest over four years. When Jan signed his contract yesterday he signed it on the door of the Welfare office he and his mother had to go to for good stamps when they first moved to America. Talk about coming full circle. You can read the full article here at Forbes.com