Facebook acquired WhatsApp in 2014 for a headline price of $19 billion.
WhatsApp was founded in 2009 by Jan Koum and Brian Acton, both former Yahoo employees. It began as a simple status and messaging application and grew into a major international service for text messages, images, voice calls, and group conversations. Its large user base made it especially valuable in markets where traditional SMS was costly or less widely used.
Facebook announced the acquisition in February 2014. The consideration consisted of cash, Facebook shares, and restricted stock units for WhatsApp employees. Because Facebook’s share price changed during the transaction process, the final reported value differed from the initial headline figure.
The purchase is often confused with Facebook’s Instagram deal. Instagram cost about $1 billion in 2012, while WhatsApp’s 2014 transaction was many times larger.