Facebook has been looking to capitalize on business ventures as much as possible as of late, and their acquirement of instant messaging service WhatsApp is next up to add to their growing roster. Despite failing to attain the services of Snapchat earlier last year, the social networking platform has now found success in purchasing the increasingly well-known WhatsApp for a sum of $19 billion, consisting of $12 billion in stock, $4 billion in cash and $3 billion in restricted stock. The app is home to over 450 million monthly users and 320 million daily active users.
Co-founder of WhatsApp, Jan Koum, will also be joining Facebook on the board of directors, along with his entire team becoming part of the move.