Facebook Inc. (FB), the world’s largest social network, agreed to acquire mobile-messaging startupWhatsApp Inc. for as much as $19 billion in cash and stock, seeking to expand its reach among users on mobile devices.
The purchase would be the biggest Internet deal since Time Warner’s $124 billion merger with AOL in 2001, according to data compiled by Bloomberg. The accord includes $12 billion in stock, $4 billion in cash and $3 billion in restricted shares, Facebook said today in a statement. WhatsApp has more than 450 million members, with 1 million users being added daily.
Facebook Chief Executive Officer Mark Zuckerberg, who bought photo-sharing service Instagram for about $700 million in 2012, has been adding applications such as messaging and news to court smartphone and tablet users. WhatsApp, which would be the company’s biggest acquisition, competes with apps from Twitter Inc., Kik Interactive Inc. and Snapchat Inc., the photo-message startup that rebuffed a $3 billion Facebook bid last year.
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