Saturday 22 February 2014
Facebook to buy WhatsApp for $19bn
Facebook has bought messaging app WhatsApp in a deal worth a total of $19bn (£11.4bn) in cash and shares.
It is the social networking giant's biggest acquisition to date.
WhatsApp has more than 450 million monthly users and is popular with people looking to avoid text messaging charges.
In a statement announcing the deal, Facebook founder Mark Zuckerberg described WhatsApp's services as "incredibly valuable".
WhatsApp allows users to send messages over internet connections, avoiding text messaging fees. The company claims it is currently registering one million new users a day.
It makes money by charging users a subscription fee of $1 per year, although it offers a free model as well.
Silicon Valley's newest billionaires
The deal to buy it includes $4bn in cash and approximately $12bn-worth of Facebook shares, plus an additional $3bn in stock to WhatsApp's founders and employees at a later date.
On a conference call to discuss the deal, WhatsApp co-founder Jan Koum said he planned to operate the firm "independently and autonomously". He will also become a member of Facebook's board of directors.
"We're excited and honoured to partner with Mark and Facebook as we continue to bring our product to more people around the world," Mr Koum said in a statement.
Mr Zuckerberg said the prospect of a deal was first floated just 11 days ago.
The Facebook founder said he believed WhatsApp was on track to have a billion users, but insisted he had no plans to place advertising on WhatsApp's interface, saying he did not think ads were the best way to make money from messaging systems.
Once the deal is finalised, Mr Koum and co-founder Brian Acton are set to become Silicon Valley's newest billionaires.
WhatsApp has about 50 employees in total.
Siphoning billions
Cathy Boyle, a senior analyst at research firm eMarketer, said WhatsApp was valuable to Facebook for several reasons beyond advertising, including its younger user base and its popularity overseas.
"WhatsApp actually has greater penetration in a lot of international markets than Facebook," Ms Boyle told the BBC.
She added that it was notable that Facebook's chief financial officer David Ebersman referred to the telecommunications industry when discussing the firm's purchase.
"WhatsApp is trying to siphon the billions that the telecom industry would make from [traditional SMS text messaging]" she said.
Ben Bajarin, from California-based technology consultants Creative Strategies, told BBC Radio 4's Today programme that the deal would allow Facebook to tap into a rapidly growing market.
"WhatsApp is on a path towards a billion users," he said. "They're growing exponentially - much, much faster than Facebook.
"For Facebook this is a key growth area where, even if they don't monetise this product, this is a way that Facebook can get the next billion smartphone consumers into their ecosystem... to touch them and engage with them in other ways than just the Facebook platform."
Shares in Facebook dropped 5% in after hours trading before recovering slightly.
Prior to this acquisition, Facebook's biggest purchase had been Instagram for $1bn in 2012.
PUNCH reporters rubbish Tiwa Savage in new post
Enjoy this PUNCH newspaper article titled "Flop of the week"
Mavin Records’ first lady, Tiwa Savage, used to live in the UK before she returned to Nigeria. Of course, over there, she was relatively unknown. She once participated in the UK’s X factor.
It didn’t get her the desired fame. Tiwa was still irrelevant while she was there and therefore wouldn’t have dared to assault a UK policeman.
However, when Tiwa came back to Nigeria, her talents blew up. She became recognised, got signed under one of the leading record labels, bagged endorsement deals here and there and became a popular face. Of course, she joined the league of the A-list acts that now laugh all the way to the bank.
Now, Tiwa can afford to assault a Nigerian policeman as alleged.
It was reported earlier in the week that the pretty singer was whisked away by the police for allegedly humiliating a policeman who apprehended her for violating traffic rules.
Those who were there claimed Tiwa got down from her car and angrily removed the man’s beret.
Not just a few condemned the alleged attitude. Tiwa may have lost some of her fans over the incident.
“Tiwa Savage is a disappointment for daring to remove a policeman’s cap. What point was she trying to make by such a crude act? Does she know that she is a role model to many, by virtue of being a star, and that her irresponsible behaviour goes far beyond the confines of her abode? I hope she realises her mistake and apologises to the police as well as her fans,” a fan said.
Don’t Blame Me If My Clothes Do Not Cover My Boobs — Actress, Yvonne Jegede
Nollywood actress, Yvonne Jegede who recently landed in a messy breast surgery scandal upon her return to the movie industry in a recent interview talks about her selling point, ideal man
Yvonne Jegede who featured in Tuface Idibia's "African Queen" video made a stunning comeback to acting after several years of being away to study abroad in University in Cyprus.
Her ideal man
I don't even know what it is any more. But I think people at different ages have different perspection in respect of what an ideal man is. He should be more intelligent than myself.
I need somebody I can learn from him. He should also be able to take care of himself. That's an ideal man for me. He should not be ugly.
On her selling point
I think it is my brain. Talking about the physical things that attracts men to me, it depends. Some people say, it's my eyes, others prefer my lips and my boobs. So, I do not know. When I love into the mirror, I love everything about myself.
On revealing some part of your body, her boobs
Well, it depends on the clothes. I have big boobs, so, if the clothes are not big enough to cover my boobs you would not blame me for that. I am not the person who made my clothes . I just put the clothes on.
On her passion for revealing some part of your body
It depends on my mood. If I want to expose my back, I will do that. It goes with my mood.
Plans on geting marriage
When the time comes, I will get married. I have never given it a thought.
It's not about thinking, it is about the right person coming my way. Many ladies have been thinking about settling down for years now, but Mr. right has not come their way.
On acting nude
No, I cannot for no reason. I have people I am answerable to.
On sexual harassment in the industry
Sexual harassment in the industry have to do with what you want. If you want to be sexually harassed, you will be. I am saying that because, even when I am walking on the road, or in the banking hall, I usually get passes.
But it depends on what you want. I do not think every director would want to sleep with every girl he comes across. Maybe, I am wrong but, I don't think it is possible. I have had the experience where a produced would refused to feature me in his movie because I did not sleep with him. They might make their advances to me.
Her ideal man
I don't even know what it is any more. But I think people at different ages have different perspection in respect of what an ideal man is. He should be more intelligent than myself.
I need somebody I can learn from him. He should also be able to take care of himself. That's an ideal man for me. He should not be ugly.
On her selling point
I think it is my brain. Talking about the physical things that attracts men to me, it depends. Some people say, it's my eyes, others prefer my lips and my boobs. So, I do not know. When I love into the mirror, I love everything about myself.
On revealing some part of your body, her boobs
Well, it depends on the clothes. I have big boobs, so, if the clothes are not big enough to cover my boobs you would not blame me for that. I am not the person who made my clothes . I just put the clothes on.
On her passion for revealing some part of your body
It depends on my mood. If I want to expose my back, I will do that. It goes with my mood.
Plans on geting marriage
When the time comes, I will get married. I have never given it a thought.
It's not about thinking, it is about the right person coming my way. Many ladies have been thinking about settling down for years now, but Mr. right has not come their way.
On acting nude
No, I cannot for no reason. I have people I am answerable to.
On sexual harassment in the industry
Sexual harassment in the industry have to do with what you want. If you want to be sexually harassed, you will be. I am saying that because, even when I am walking on the road, or in the banking hall, I usually get passes.
But it depends on what you want. I do not think every director would want to sleep with every girl he comes across. Maybe, I am wrong but, I don't think it is possible. I have had the experience where a produced would refused to feature me in his movie because I did not sleep with him. They might make their advances to me.
SEE What Nollywood Atress, Ebube Nwagbo Has To Say About Moving Into KCee's House
Nollywood actress, Ebube Nwagbo has denied the report making waves that she has moved in with her ex-boyfriend, Limpopo crooner, Kcee at Chevron Estate, Lekki.
Ebube reacted to the allegation saying "I am in my house in the mainland. I didn't move into Kcee's house in Lekki. He is a married man. Let's stop all these misleading stories. I am currently on set," she reacted.
Ebube Nwagbo and the 'Limpopo' crooner used to be an item before the he ended their relationship in 2010 when he got married to his wife, Ijeoma.
His marriage to Ijeoma who has kids for him was however, said to have three years later.
Osita “Paw Paw” Iheme turns 32
Nollywood actor Osita Iheme of the “Aki and Paw paw” fame turned 32 on February 20, reports Naij.
The actor celebrated his birthday on location in Enugu where he is currently shooting a new film,
The actor celebrated his birthday with friends and colleagues on the film set including Chinedu “Aki” Ikedieze.
Iheme’s claim to fame came when he played lead in the comedy flick Aki na Ukwa alongside Chinedu Ikedieze in 2003.