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Facebook’s WhatsApp acquisition closes with a $22bn price tag

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Facebook's WhatsApp acquisition closes with $22bn price-tag

SOCIAL NETWORK Facebook’s acquisition of messaging app WhatsApp is a done deal, costing it $3bn more than originally planned.

When first announced earlier this year,Facebook said that WhatsApp would cost it $16bn, plus up to $3bn in stock for the app’s founders. However, on Monday it was revealed via a US Securities and Exchange Commission filing that the deal is now worth $21.8bn in total, due to the higher value of Facebook stock.

This regulatory filing also reveals that WhatsApp founder Jan Koum will receive almost $2bn in stock over a four-year period, as an inducement for him to stay with the company. Koum, who will serve as WhatsApp Chief Executive and become a Facebook director, likely will welcome this, as he will also receive the same $1 annual salary as Facebook founder Mark Zuckerberg, and will not be eligible for any Facebook bonuses.

In a joint statement, the companies said on Monday that they were “looking forward to connecting even more people around the world, and continuing to create value for the people who use WhatsApp.”

The closure of the Facebook’s WhatsApp acquisition comes just days after European regulators gave the deal the thumbs up, saying it does not pose a thread to the mobile communications app market.

Joaquín Almunia, said in the ruling, “Consumer communications apps keep European citizens connected and are becoming increasingly popular,” Almunia said.

“While Facebook Messenger and Whatsapp are two of the most popular apps, most people use more than one communications app. We have carefully reviewed this proposed acquisition and come to the conclusion that it would not hamper competition in this dynamic and growing market.

“Consumers will continue to have a wide choice of consumer communications apps. This is a very dynamic market with several competing apps available on the market, such as Line, Viber, iMessage, Telegram, Wechat and Google Hangouts.”

source:http://www.theinquirer.net/inquirer/news/2374216/facebooks-whatsapp-acquisition-closes-with-a-usd22bn-price-tag

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FACEBOOK IS TESTING ITS VERY OWN DATING APP

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Yes, Facebook Dating is a real thing. And we may have just received a sneak peek.

Jane Manchun Wong — an app researcher who’s spotted Facebook features in the past, like Talent Show — posted photos from what she claims is an internal test of Facebook Dating.

 

The company wouldn’t say whether these pics are the real deal, although it did confirm it’s testing Facebook Dating internally.

Two months ago, at its F8 developer conference, Facebook shared that it was developing a dating app. Aspiring yenta Mark Zuckerberg explained it was “going to be for building real, long-term relationships, not hookups.”

Later, on its blog, Facebook dished out a few more details: “People will be able to create a dating profile that is separate from their Facebook profile — and potential matches will be recommended based on dating preferences, things in common, and mutual friends. They’ll have the option to discover others with similar interests through their Groups or Events.”

From Wong’s photos, it looks like the app will let you prevent your current Facebook friends from seeing your dating profile, thus avoiding potential embarrassment. It’ll also offer a variety of gender options, including trans man, trans woman, and non-binary.

No word on when, exactly, Facebook Dating will become available to the public. Guess you’ll just have to make do with Tinder, Bumble, OKCupid, Happn, Grindr, Hinge, and the thousands of other dating apps out there in the meantime.

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WHATSAPP MESSAGES AND SENDERS CAN BE ALTERED AFTER YOU RECEIVED THEM, SAY RESEARCHERS

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Security researchers have discovered that it’s possible for hackers to change both the content and the sender of a WhatsApp message after you’ve received it …

This includes the ability to change quoted messages, to make it appear you said something you didn’t.

CNET reports that the possibility was discovered by Check Point Software Technologies.

The firm] found that hackers can create a hacked version of the app and alter a quoted message (a past one that someone is replying directly one) to change the content or sender.

The hacker would, however, need to be part of the chat, so the vulnerability mostly applies to group chats.

WhatsApp told the NYT that it was not aware of the technique being used in the wild, and a cure would be worse than the problem.

One solution would be to create transcripts of every message exchange to verify the accuracy of every quote. Creating such a transcript is a significant privacy risk because those accounts of what people wrote to each other must be stored somewhere, the company said.

All WhatsApp messages are protected by end-to-end encryption, which means that only those within a chat would be able to exploit the loophole. Storing a transcript would effectively mean removing that end-to-end encryption.

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WHATSAPP INTRODUCES GROUP CALLS FOR UP TO 4 PEOPLE

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Times after Messenger launched the video call option, WhatsApp rolls out its new feature for conference video calling. The new WhatsApp feature is now available to facilitate the users around the globe on iOS and Android.

Distinctly, the group calling feature supports up to four people at the same time.

The functionality is pretty simple: To start the video call with one of the contacts, a button on the top right corner of the screen will let the user add another participant to call.

Once the call gets connected, an add icon appears, on the top right, above the names of the recipients. However, if the third user accepts the call their names will be separated with a comma. The feature can connect up to four people on a video call, all at the same time.

Noteworthy is the fact that this feature only works on the latest version of WhatsApp.

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