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Home Facebook’s WhatsApp Deal Is Officially Done

Facebook’s WhatsApp Deal Is Officially Done

Facebook closed its deal to acquire messaging application WhatsApp, which it announced in February in an deal worth $19 billion at the time. The social network received approval from the European Commission on Saturday to move forward with the acquisition, which had been opposed by some European telecommunications companies.

See Also: Why Facebook’s WhatsApp Deal Is Bad For Users

The deal is now worth close to $22 billion, mostly due to the increased value of Facebook stock, as Recode notes.

WhatsApp CEO Jan Koum will join the Facebook board of directors and follow Facebook CEO Mark Zuckerberg’s lead of earning a base salary of just $1 per year. 

Lead image by Madeleine Weiss for ReadWrite

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The ReadWrite Editorial policy involves closely monitoring the tech, gambling and blockchain industries for major developments, new product and brand launches, AI breakthroughs, game releases and other newsworthy events. Editors assign relevant stories to in-house staff writers with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

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