Facebook has finished its acquisition of the cell messaging carrier WhatsApp for nearly $22 billion, up from the original $19 billion when the coins-and-inventory deal was struck early this year thanks to the growing fee of Facebook shares.

Facebook named WhatsApp co-founder and CEO Jan Koum to its board Monday. WhatsApp is the largest acquisition for the Menlo Park, California agency by some distance, and larger than any offers made by Google, Microsoft, or Apple.

The fee that Facebook became willing to pay raised eyebrows while the buyout changed into introduced on Feb. 19, although analysts agreed that landing the well-known internet site made experience. Including cash, stock, and constrained stock offered to WhatsApp employees, the deal is nicely worth $21.8 billion based on Facebook’s inventory rate on Monday.

Also Visit: Facebook closes WhatsApp purchase now worth $21.8B

WhatsApp has been growing rapidly, in particular in growing countries like Brazil, India, Mexico, and Russia, and now has more than 500 million customers.

WhatsApp allows users to chat with their cellphone contacts, both one-on-one and in organizations. It additionally lets in humans send texts, photos, films, and voice recordings over the Internet and permits them to text or call human beings overseas without heavy expenses. Free to apply for the primary 12 months and costing $1 in step with 12 months after that, the carrier has no advertising and marketing.

Facebook, which has its very own mobile messaging app referred to as Messenger, plans to preserve WhatsApp as a separate carrier.

The acquisition was approved by using the antitrust authority of the European Union on Friday.

Facebook’s stocks climbed 32 cents to  $77.76 in afternoon buying and selling on Monday.

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