Facebook Pays $19 Billion For a List Of People Desperately Trying to Avoid Facebook

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facebookSAN FRANCISCO — Facebook, the world’s largest social network, agreed to acquire mobile-messaging startup WhatsApp for as much as $19 billion in cash and stock, seeking to expand its reach among users on mobile devices. The purchase would be the biggest Internet deal since Time Warner’s $124 billion merger with AOL in 2001, according to data compiled by Bloomberg. The accord includes $12 billion in stock, $4 billion in cash and $3 billion in restricted shares, Facebook said Wednesday in a statement. WhatsApp has more than 450 million members, with 1 million users being added daily, Facebook said. The company, which acquired photo-sharing service Instagram for about $700 million in 2012, is counting on applications beyond its main social network, such as messaging and news, to court more users on smartphones and tablets. WhatsApp competes with Snapchat, which rebuffed a $3 billion offer from Facebook last year, as well as services from Twitter and Kik Interactive. (keep reading at New Jersey.com)

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