May 23, 2017

Facebook buying messaging app WhatsApp for $19B

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Facebook buying messaging app WhatsApp for $19B Reviewed by on . Array Array Rating: 3.5

What is a milestone? What does to pursue a goal mean?
Read this advanced article from USA TODAY and improve your Business English: schedule your GROUP LESSON here!

 

In one of the biggest technology deals of the past decade, Facebook agreed to buy WhatsApp for $16 billion to expand in the fast-growing mobile messaging market and pursue its goal of connecting as much of the world’s population as possible over the Internet.

Facebook said it will pay $4 billion in cash and $12 billion in stock for WhatsApp, a service that has 450 million monthly users and is adding more than 1 million new users a day.

“WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable,” Facebook CEO Mark Zuckerberg said in a statement announcing the deal.

 

Article by Alistair Barr
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What does it mean? Click and find out!

deal (n) an agreement, especially in business, on particular conditions for buying or doing something
fast-growing (adj) tending to spread quickly
to pursue (v) to do something or try to achieve something over a period of time
stock (n) the value of the shares in a company that have been sold
milestone (n) a very important stage or event in the development of something

 

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