Facebook Inc closed its acquisition of mobile messaging service WhatsApp on Monday, with the final price tag rising an additional $3 billion to roughly $22 billion because of the increased value of Facebook's stock in recent months. WhatsApp founder Jan Koum will receive nearly $2 billion in stock, vesting over a four-year period, as an inducement for him to stay with the company, according to a regulatory filing on Monday.The acquisition, which Facebook announced in February and recently received regulatory approval in Europe, underscores the sky-rocketing values of fast-growing Internet startups, and the willingness of established players such as Facebook and Google Inc to pay out for them.WhatsApp, which has more than 600 million monthly users, is among a new crop of mobile messaging and social media apps that have become increasingly popular among younger users. Snapchat, a privately owned mobile app that allows users to swap photos that can disappear after a few seconds, is raising money at a $10 billion valuation, according to media reports.Facebook paid $4.59 billion in cash and 178 million shares of its stock for WhatsApp, as well 46 million of grants in restricted stock units for WhatsApp employees that will vest over a four year period. At Monday's opening Facebook share price of $77.17, the deal translates to roughly $21.8 billion.
Facebook, Inc. (Facebook), is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 0.4% or $0.31/share to $77.75. In the past year, the shares have traded as low as $43.55 and as high as $79.71. On average, 36791400 shares of FB exchange hands on a given day and today's volume is recorded at 19453440.
Google Inc. (Google), is a global technology company. Shares of GOOG traded higher by 0.44% or $2.54/share to $577.82. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 1501100 shares of GOOG exchange hands on a given day and today's volume is recorded at 864831.
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