ExitRecord

Acquisition

WhatsApp and Facebook (now Meta Platforms): the deal on record

Facebook agreed in February 2014 to acquire the messaging app WhatsApp for approximately USD 16 billion in cash and Facebook shares, with a further USD 3 billion in restricted stock units for WhatsApp founders and employees. The deal closed on 6 October 2014 after clearance by the European Commission. WhatsApp kept its brand and its co-founder Jan Koum joined the Facebook board.1,2,4

Value as reportedapproximately USD 16 billion in cash and shares, plus USD 3 billion in restricted stock units1
Announced19 February 2014
Completed6 October 2014
SectorMobile messaging

Timeline

  1. Facebook announces a definitive agreement to acquire WhatsApp.1
  2. The FTC Bureau of Consumer Protection writes to both companies reminding them that WhatsApp must keep its privacy promises to users after the deal.3
  3. The European Commission approves the acquisition under the EU Merger Regulation.4
  4. Facebook completes the acquisition, issuing 177,760,669 Class A shares and paying approximately USD 4.59 billion in cash, according to its 8-K filing.2
  5. The European Commission fines Facebook EUR 110 million for providing misleading information during the merger review.5
  6. The FTC sues Facebook for monopolization, alleging the WhatsApp and Instagram acquisitions were anticompetitive and seeking possible divestiture.6
  7. US District Judge James Boasberg rules that the FTC did not show Meta holds a monopoly, so Meta is not required to spin off WhatsApp or Instagram.7
  8. The FTC announces that it will appeal and files a notice of appeal to the US Court of Appeals for the D.C. Circuit, according to the Associated Press and AFP.8,9
  9. Amicus briefs begin to be filed in the appeal, FTC v. Meta Platforms, Inc., No. 26-5028, with a group of economics professors supporting reversal. The Washington Legal Foundation filed a brief supporting Meta on 27 August 2026.10,11

Regulatory review

  1. US Federal Trade Commission. Letter on privacy obligations. No action taken against the deal.3
  2. European Commission. Approved unconditionally under the EU Merger Regulation.4
  3. European Commission. Fined Facebook EUR 110 million for providing misleading information about the takeover.5
  4. US District Court for the District of Columbia. Ruled for Meta in the FTC monopolization case. The FTC filed a notice of appeal to the D.C. Circuit in January 2026.7,8,9

Status now

Operates as part of Meta Platforms. A federal judge ruled for Meta in the FTC monopolization case on 18 November 2025. The FTC filed a notice of appeal to the US Court of Appeals for the D.C. Circuit in January 2026 (No. 26-5028). Amicus briefs were filed in May and August 2026, and no appellate decision had been found as of 28 October 2026.7,8,9,10,11

Sources

  1. Meta Platforms Investor Relations, Facebook to Acquire WhatsApp (19 February 2014)
  2. US Securities and Exchange Commission (EDGAR), Facebook Inc. Form 8-K, closing of WhatsApp acquisition (6 October 2014)
  3. US Federal Trade Commission, FTC Notifies Facebook, WhatsApp of Privacy Obligations in Light of Proposed Acquisition (10 April 2014)
  4. European Commission, Mergers: Commission approves acquisition of WhatsApp by Facebook (IP/14/1088) (3 October 2014)
  5. European Commission, Mergers: Commission fines Facebook EUR 110 million for providing misleading information about WhatsApp takeover (IP/17/1369) (18 May 2017)
  6. US Federal Trade Commission, FTC Sues Facebook for Illegal Monopolization (9 December 2020)
  7. NPR (via WFAE), Judge sides with Meta in antitrust trial, will not spin off WhatsApp and Instagram (18 November 2025)
  8. Associated Press (via Star Tribune), FTC says it will appeal Meta antitrust decision (21 January 2026)
  9. AFP (via Space Daily), US regulator appeals Meta's court victory in monopoly case (20 January 2026)
  10. US Court of Appeals for the D.C. Circuit filing (copy hosted by an amicus), Brief for Amici Curiae Professors of Economics in Support of Reversal, FTC v. Meta Platforms, Inc., No. 26-5028 (D.C. Cir.) (29 May 2026)
  11. Washington Legal Foundation, FTC v. Meta (amicus brief case page) (27 August 2026)