WhatsApp Inc. co founder sells app to Facebook
Everyone has their own version of the “American dream”, but few are actually able to achieve theirs. Jan Koum, co founder of the popular texting app called WhatsApp, is one of those few. On Feb. 19, 2014, Koum signed over WhatsApp Inc. to Facebook for an astounding $19 billion.
Born in the Ukraine, Koum moved to the United States when he was just a teenager. According to Forbes magazine, he and his mother struggled financially and relied on food stamps. By the time he was 18, Koum had taught himself computer networking by purchasing used manuals. He eventually enrolled to San Jose State University, where he later dropped out while working for Yahoo!.
After years of working for Yahoo!, Koum decided to leave the company in pursuit of a more fulfilling job. The irony is that he applied to work for Facebook, and was rejected. Instead, in 2009, Koum invested in an iPhone and noticed the immense growth potential for the new industry of smartphone applications. At the time, the iPhone App Store was just a baby, and Koum started his work brainstorming for what would become a $19 billion, SMS-alternative application.
WhatsApp was founded five years ago, and is available for smartphones. The name of the app is meant to be a pun for the slang phrase “What’s Up?”, according to WhatApp’s About page. The app allows the user to message contacts from around the globe using a Wi-Fi connection or data from their phone, essentially for free until the user receives a $0.99 charge after one year of use. According to Yahoo! , WhatsApp has accumulated more active users than Twitter, and is a close competitor for Facebook Messenger. The social media mogul purchasing WhatsApp Inc. is understandable, as CEO Mark Zuckerburg continues to add to the company’s fleet of smartphone apps after its recent purchase of Instagram.
Regarding the future of WhatsApp, “You can still count on absolutely no ads interrupting your communication,” Koum told Yahoo!. “Almost five years ago we started WhatsApp with a simple mission: building a cool product used globally by everyone. We are announcing a partnership with Facebook that will allow us to continue on that simple mission,” he told Daily Mail UK.
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