The world's biggest social networking company said Wednesday it is paying
In addition, the app's founders and employees will be granted restricted stock worth
The deal translates to roughly 11 per cent of
WhatsApp, a free messaging service for smartphones, lets users chat with their phone contacts, both one-on-one and in groups. The service allows people to send texts, photos, videos and voice recordings over the Internet. It also lets users communicate with people overseas without incurring charges for pricey international texts and phone calls.
WhatsApp has more than 450 million active users. At
"We want to develop more mobile experiences beyond just the main
Asked about the demographics of WhatsApp's users,
"WhatsApp's extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide. We're are honoured to partner with Mark and
Users express optimism
Gilbert Rwabigwi, the Director of Ejo Social Media, a firm involved with social media marketing and management, predicted that with the acquisition, users should brace for high quality services.
Jovani Ntabgoba, the General Manager of K-LAB, a
"Its previous owners have earned money from selling it off, and the users will benefit from the expected improvement in quality of service delivery," he said.
But Jacob Ndutiye, a student at
"A company cannot invest over
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