WhatsApp Messenger is a proprietary, cross-platform, encrypted instant messaging client for smartphones. It uses the Internet to send text messages, documents, images, video, user location and audio messages to other users using standard cellular mobile numbers.
As of February 2016, WhatsApp had a user base of one billion, making it the most popular messaging application. On February 19, 2014, months after a venture capital financing round at a $1.5 billion valuation, Facebook announced it was acquiring WhatsApp for US$19 billion, its largest acquisition to date. At the time, the acquisition was the largest purchase of a venture-backed company in history. Sequoia Capital received an approximate 50x return on its initial investment. Facebook, which was advised by Allen & Co, paid $4 billion in cash, $12 billion in Facebook shares, and an additional $3 billion in restricted stock units granted to WhatsApp’s founders (advised by Morgan Stanley), Koum and Acton. Employee stock was scheduled to vest over four years subsequent to closing. The transaction was the largest purchase of a company backed by venture capitalists to date. Days after the announcement, WhatsApp users experienced a loss of service, leading to anger across social media.
The acquisition caused a considerable number of users to move, or try out other message services as well. Telegram claimed to have seen 8 million additional downloads of its app. Line claimed to have seen 2 million new users for its service.
Recently WhatsApp has added a new feature. If you type ‘@’ in a group and wait for a while, it will show a dropdown list of all the group members. This feature is quite similar to the mention feature of Twitter. Earlier also WhatsApp introduced quote a conversation feature (Reply a conversation) feature few months back.
Since the day when Facebook acquired WhatsApp, the dev team is continuously adding new features to this Instant Messaging Application.
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