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WhatsApp was founded in 2009 by Brian Acton and Jan Koum, former employees of Yahoo!. After leaving Yahoo! in September 2007, they took some time off in South America. At one point, they applied for jobs at Facebook and Twitter but were rejected.
Koum named the app WhatsApp to sound like "what's up". On February 24, 2009, he incorporated WhatsApp Inc. in California. However, when early versions of WhatsApp kept crashing, Koum considered giving up and looking for a new job. Acton encouraged him to wait for a "few more months"
On February 19, 2014, months after a venture capital financing round at a $1.5 billion valuation, Facebook announced it was acquiring WhatsApp for US$19 billion, its largest acquisition to date. At the time, it was the largest acquisition of a venture-backed company in history.
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