WHATSAPP allows users to send texts and photos for free – making it the most popular method of mobile phone communication for millions.
But how does it make money and how much was it bought for? Here’s everything you need to know.
How WhatsApp makes money?
In the beginning, WhatsApp made money by asking some users to pay the equivalent of $1 to download, costing the same cost to renew each year.
But the company soon abandoned its business model and steered clear of in-app advertising.
Instead, they make money from premium services like WhatsApp for Business and WhatsApp Pay.
As of November 2022, the service has more than 2 billion users.
Who Owns WhatsApp?
WhatsApp was created in 2009 by computer programmers Brian Acton and Jan Koum – former employees of Yahoo! Koum came up with the name WhatsApp because it sounded like “What’s up”.
After a series of tweaks, the app was released in June 2009 with a messaging component, with 250,000 active users.
It was originally free but switched to a paid service to avoid growing too quickly.
Finally, in February 2014, social media giant Facebook bought WhatsApp Inc and still owns the service today.
However, both Acton and Koum have since left the company.
How much did Facebook buy WhatsApp for?
On February 9, 2014, Mark Zuckerberg invited owners Acton and Koum to his home for dinner and made him an official offer to join the Facebook boards.
Ten days later, it was announced that Facebook was buying WhatsApp for $19 billion.
Later that year, Koum donated $555 million of his Facebook stock to the Silicon Valley Community Foundation. Things later went awry, however, when WhatsApp began to change in ways the co-founders didn’t like.
In 2018, WhatsApp co-founder Brian Acton tweeted, “It’s time. #deletefacebook“.
An employee who helped push through the deal later said he regretted his involvement.
Neeraj Arora, WhatsApp’s former chief business officer, described Facebook as a “Frankenstein monster,” saying promises have not been kept and have had a negative impact on users.
When WhatsApp first started considering a Zuckerberg acquisition in 2014, they said there should be no ads, no games, and no gimmicks in the app.
But Ajora claimed that didn’t happen, saying it was “a shadow of the product that we put our hearts into and wanted to build for the world”.
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https://www.thesun.ie/tech/781153/whatsapp-money/ How WhatsApp makes money? – The Irish sun