Even 10 Instagrams from Google wasn’t enough for WhatsApp.
At least not according to a report from Fortune, which cites two sources who claim Google offered the mobile messaging company $10 billion for an acquisition, only to be turned down.
WhatsApp, of course, ended up going to Facebook for a deal worth around $19 billion (including restricted stock). Google reportedly didn’t offer WhatsApp a board seat — whereas Facebook gave up a seat to WhatsApp cofounder Jan Koum.
When Facebook plunked down $1 billion for Instagram in 2012, it completely shifted the landscape for app acquisitions. That purchase ended up being what every subsequent acquisition was measured by (don’t forget Facebook also offered $3 billion for Snapchat, which was actually turned down).
By offering $10 billion, Google showed that it wasn’t afraid to outspend Facebook’s previously mammoth (and potentially overvalued) purchases. But Google likely couldn’t have guessed that Facebook would offer almost twice as much.
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google ... All Google news »
WhatsApp Messenger is a cross-platform mobile messaging app which allows you to exchange messages without having to pay for SMS. WhatsApp Messenger is available for iPhone, BlackBerry, Andro... All WhatsApp news »