iWorld
Facebook buys WhatsApp for a whopping $19 billion
MUMBAI: WhatsApp is an application that has seen exponential growth in the five years since its launch and it has become the most popular means of communication through mobile phones. In a deal announced today, popular social media website Facebook has acquired the messaging application for a whopping $19 billion.
As per the terms of the transaction, $4 billion will be paid in cash to WhatsApp shareholders, $12 billion in Facebook shares and $3 billion in restricted stock units that will vest in the owners and employers of WhatsApp over four years after the deal is completed after regulatory approvals. WhatsApp co-founder and CEO Jan Koum will be joining the Facebook board of directors.
After the acquisition, WhatsApp will continue to operate independently and will continue its policy of no advertising. Currently, the application has 450 million users and is adding a million users each day. A release from Facebook says that the acquisition supports Facebook’s and WhatsApp’s shared mission to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably.
“WhatsApp is a company of really hardcore engineers who are obsessing over perfecting messaging, not adding a lot of bloated features into a messaging app. Over time, I think people are going to pay for that,” said Facebook founder and CEO Mark Zuckerberg.
Facebook was advised by Allen & Company LLC and Weil, Gotshal & Manges LLP and WhatsApp was advised by Morgan Stanley and Fenwick & West, LLP.
Koum said, “WhatsApp’s extremely high user engagement and rapid growth are driven by the simple, powerful and instantaneous messaging capabilities we provide. We’re excited and honored to partner with Mark and Facebook as we continue to bring our product to more people around the world.”
iWorld
Anirudh Ravichander and Universal Music India join forces to take South India’s sound to the world
The composer behind 13 billion streams launches Albuquerque Records with UMI as its exclusive global partner
MUMBAI: Universal Music India has struck an exclusive partnership with Albuquerque Records, the freshly minted independent label of singer-composer Anirudh Ravichander, in a deal that bets big on South India’s booming pop and hip-hop scene going global.
The arrangement, announced on 17 March, will see Universal Music India handle future pop and hip-hop releases by Anirudh himself, as well as artists signed to the new label. A first release is already in the pipeline for April, featuring Anirudh.
The numbers behind the man are hard to ignore. Debuting in 2012 with the viral sensation “Why This Kolaveri Di”, Anirudh has since clocked over 13 billion audio streams across more than 770 tracks, cementing his position as the No.1 South Indian artist on Spotify by total streams. His fingerprints are all over some of the Tamil film industry’s biggest musical moments, from Hukum and Vaathi Coming to Arabic Kuthu and the A23 Theme.
But Albuquerque Records is a different beast. Built for the non-film space, it is designed to nurture independent talent and champion the next wave of Indian pop voices. “Universal Music India’s leadership in pop and hip-hop made them the natural partner,” said Anirudh. “I’m excited to take independent voices to audiences around the world.”
Universal Music India’s chairman and CEO Devraj Sanyal was equally effusive. “Anirudh represents the future of Indian music, bold, original, and with enormous potential,” he said. “Identifying transformative talent is our superpower, and this partnership reflects that belief.”
Sanujeet Bhujabal, managing director of Universal Music India, framed the deal as more than a distribution play. “Albuquerque Records represents Anirudh’s bold artistic vision in the world of pop and hip-hop,” he said. “True to his legacy of innovation, this partnership is set to establish yet another landmark creative space, this time for the emerging world of iPop and beyond.”
For Universal Music India, the deal deepens a long-running push into South India’s four key language markets: Tamil, Malayalam, Kannada and Telugu. The label already has regional imprints, film partnerships with Maddock Films and Excel Entertainment, and a growing non-film roster. Landing Anirudh, arguably the south’s most bankable music brand, is a statement of intent. South Indian music has the streams. Now it is coming for the world.
