Facebook recently dropped a massive $16 billion to acquire popular messaging service WhatsApp, but based on recent reports it wasn't the first offer on the table. According to two of Fortune's anonymous sources, Google's offer of $10 billion was turned down in favor of Facebook's much higher valuation.
Other reports suggest that Google was indeed extremely interested in the messaging service, saying that the search giant offered a large chunk of cash to WhatsApp just so the company would tell Google when a third party became interested in an acquisition. The connection between this particular deal and Google's $10 billion offer isn't entirely clear, but we do know the company offered WhatsApp a figure in the millions just for a heads up on other outside interest. The reports go on to say that WhatsApp also declined this deal, meaning Facebook was likely in the dark about the $10 billion on the table from Google when it offered significantly more.
Zuckerberg highlighted WhatsApp's impressive 450 million regular user base while predicting the company is well on its way to connecting 1 billion people, in response to purchasing the massive cross platform messaging service. WhatsApp is a major player in many of the key emerging markets globally, likely something Zuckerberg and friends see as a major growth opportunity.
Facebook will hand over $4 billion in cash and $12 billion in shares to complete the deal. WhatsApp CEO Jan Koum was offered a seat on the board of directors from Facebook, an opportunity Google did not offer with its $10 billion deal, according to reports.