Facebook Acquires WhatsApp for $16 Billion

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WhatsApp Redesigned For iOS 7

UPDATE: The amount Facebook actually paid is $19 billion in total. $16 billion split into $4 billion in cash and $12 billion in stocks. Then another $3 billion to WhatsApp founders and employees.

It's been a long time coming and it looks like Facebook has taken the move. The social media giant is acquiring the highly popular messaging app WhatsApp for $16 billion in cash and stock.

Facebook announced the acquisition today and is bringing on the co-founder and CEO of WhatsApp, Jan Koum, to its board of directors.

WhatsApp has over 450 million active users a month and 70% of them are active on any given day. The messaging app is also adding more than one million new users every day.

Someone was going to buy WhatsApp inevitably with its phenomenal growth, ease of use and availability across major platforms.