Facebook has officially closed the deal to buy WhatsApp. The deal was closed today at the United States Securities And Exchange Commission (SEC).
The document confirms that WhatsApp will be an owned subsidiary of Facebook and WhatsApp co-founder and CEO Jan Koum will have a seat on Facebook’s board of directors with a salary of $1 without bonuses.
Facebook said that it is paying $12 billion in Facebook stock and $4 billion in cash for WhatsApp. The app’s founders and employees will be given $3 billion in stock that will be locked for 4 years.
The acquisition supports Facebook and WhatsApp’s shared mission to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably, the social network said.
WhatsApp will continue to operate as an independent app.
SEC filling here.
