Business

Facebook closes WhatsApp purchase now worth $21.8B

By Washington Examiner
Published October 6, 2014 6:23pm ET
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Facebook closes WhatsApp purchase now worth $21.8B
Social networking giant Facebook has come under increased scrutiny from members of Congress over its handling of consumer data and information with third-parties. | Patrick Sison

NEW YORK (AP) — Facebook has completed its acquisition of the mobile messaging service WhatsApp for almost $22 billion, up from the original $19 billion when the cash-and-stock deal was struck early this year thanks in part to the rising price of Facebook shares.

Facebook named WhatsApp co-founder and CEO Jan Koum to its board Monday. WhatsApp is by far the largest acquisition for the Menlo Park, California company, and bigger than any deals made by Google, Microsoft or Apple.

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