Sale Of WhatsApp To Facebook Turns Founder Koum, Once On Welfare, Into Overnight Multi-Billionaire
SAN FRANCISCO (CBS/AP) -- WhatsApp founders Jan Koum and Brian Acton received 116 million shares of Facebook stock currently worth nearly $9 billion when they sold their mobile messaging service to the social networking leader earlier this month.
The breakdown of the big winners in Facebook Inc.'s $22 billion acquisition emerged Wednesday in a regulatory filing.
Koum, a Ukraine immigrant who was once living on welfare, reaped the biggest jackpot with 76.4 million Facebook shares now worth $5.8 billion. That makes him Facebook's fourth largest stockholder behind company CEO Mark Zuckerberg and two mutual funds, Fidelity Management and Vanguard.
Acton, who worked with Koum when they were both Yahoo Inc. engineers, owns 39.7 million Facebook shares worth $3 billion.
More than 45 other WhatsApp current and former employees also received Facebook stock. Those employees are reported to have received about $345 million each.
Koum will join Facebook's board of directors.
WhatsApp Messenger is a cross-platform mobile messaging app which allows you to exchange messages without having to pay for SMS.