In news all this morning has been Facebook’s acquisition of the world’s largest stand-alone mobile messaging app WhatsApp. But it was not be an easy task for Mark Zuckerberg to convince WhatsApp CEO and Co-founder Jan Koum into selling the company. WhatsApp has been an acquisition target for almost two years now but Koum waited long enough to get the right valuation for his four year old company. So, here’s a look at what happened before Koum and Zuckerberg actually signed the deal. Also Read - WhatsApp is soon to change the way your data is backed up: What it means?Also Read - WhatsApp introduces 'Papa Mere Papa' stickers to celebrate Father's Day: How to download, send?
As you see in our timeline of WhatsApp’s rise, the messaging app came to life in 2009. With a noble intention of not ruining the user-experience with advertisements etc, WhatsApp clearly won hearts of millions. Also Read - Father’s Day 2021: Here's Best WhatsApp Happy Father’s Day stickers, wishes, GIFs, messages, quotes and more
It was October 2011 when WhatsApp announced that it is used to send/recieve more than 1 billion messages each day. That alone must have interested Zuckerberg.
- First call between the two happened in Spring 2012, when Mark Zuckerberg called Jan Koum. In a month’s time, they went out for coffee and a hike.
- But even the couple of dinners, hikes and phone-calls couldn’t help Mark lay his hands on WhatsApp.
- With WhatsApp’s user base growing at an alarming rate, it was time the deal was signed. It wasn’t until almost two years after the first talks, that is in February, 2014 that the two brands finally came together.
- On February 9, 2014, Mark invited Koum for dinner at his home, with a proposal that the merger would be more of a partnership. Also, Koum would get a seat on Facebook’s board of directors.
- Finally on the day when people were busy paying tribute to St. Valentine, Koum told Zuckerberg that he wants the deal.
And the rest, as they say, is history. Albeit a very recent one. So now, WhatsApp will exist under Facebook as a separate entity, continuing to function in the same way as it did.
The deal was finalized at $19 billion, which includes $4 billion in cash, about $12 billion worth of Facebook shares and the remaining $3 billion as restricted stocks. More about the merger can be read in our detailed report here.