Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Facebook has closed its acquisition of mobile messaging service WhatsApp in a deal that is now worth $21.8 billion, up from the original $19 billion deal struck, thanks in part to the social network giant’s rising stock price since February.
Menlo Park, California-based Facebook said Monday that it has named WhatsApp co-founder and CEO Jan Koum to its board of directors. WhatsApp is by far Facebook’s largest acquisition, and bigger than any that Google, Microsoft or Apple have ever done.
The deal’s value raised eyebrows when it was announced on February 19, though analysts said it makes sense for Facebook to buy the popular messaging service.
WhatsApp has been growing rapidly, especially in Brazil, India, Mexico and Russia. It has more than 500 million users. Original post at ET Telecom