Dallas, Texas 02/20/2014 (FINANCIALSTRENDS) – Facebook Inc (NASDAQ:FB) is once again at it again. This time around, the social media network where the ‘face’ of features and functions it provides are constantly under change has a new move which is expected to see high action on the stock market. The stock has already reached a record high of $69.08. and is very close to its earlier high of $68.61.
The reason for the unexpected northward movement was due to its latest acquisition, WhatsApp Inc. The takeover was for staggering $19 billion which is to be paid in the form of cash and stock.
Facebook Inc (NASDAQ:FB) revealed the acquisition news in its SEC filing..
Facebook Inc(NASDAQ:FB), the filing revealed will pay $4 billion in cash, Facebook shares to the tune of 183.9 million, which currently rate $12 billion. Moreover, the founder as well as the employees of WhatsApp too is expected to receive $3 billion in restricted shares
Facebook Inc(NASDAQ:FB), according to analysts, has bought WhatsAppInc, as part of its ongoing efforts to be more relevant to its users. Where it was a popular when it debuted in the middle of the last decade as desktop ecosystem product, today it is moving at all levels to meet the needs of the always on-the-move user base.
It has slowly and steadily through a series of acquistions, reinvented itself to a mobile-based user site, which now not only feeds the social aspects of one’s life through posting status and Instagrampics, the new News feed along with the new range of video ads which bring in higher revenues.
With WhatsApp, Facebook Inc has finally found the platform it has been desparately on the lookout, especially after SnapChat refused its offer. The social networking site now has private messaging capability!
Facebook Inc (NASDAQ:FB) currently ash over 450 million users engaged, and with one of the most popular messaging apps, it is expected to breach some high benchmarks for user engagement on the mobile!