What valuation did Sequoia's 2013 Series B round give WhatsApp?

Sequoia Capital's 2013 Series B investment valued WhatsApp at $1.5 billion. The financing came as the messaging service was expanding rapidly but before Facebook agreed to acquire it.

By February 2013, WhatsApp had about 200 million active users and a staff of roughly 50 people. Sequoia invested another $50 million after its earlier investment of about $8 million in 2011. The new valuation reflected WhatsApp's growing user base and its position as a major mobile communications service.

The $1.5 billion figure is a valuation, not the amount Sequoia invested. Sequoia's contribution in that round was $50 million. It is also distinct from Facebook's later acquisition, announced in February 2014, which was valued at approximately $19 billion in cash, shares, and restricted stock units.

Another common mix-up is the timing: the round occurred in 2013, while the $19 billion acquisition followed in 2014. WhatsApp continued adding users during the intervening period, reaching about 400 million monthly active users by December 2013.