Facebook’s Latest Acquisition? That’s WhatsApp!

After its unsuccessful bid for photo-messaging application Snapchat last November, reportedly valued at more than $3 billion, Facebook opened up the vaults and announced its acquisition of cross-platform mobile messaging company WhatsApp for $4 billion in cash and some $12 billion in Facebook shares, also announcing that WhatsApp Co-Founder and CEO Jan Koum will join Facebook’s board of directors.