Social Media: Facebook to buy messaging app WhatsApp for euro 14 bn ($19bn)

Facebook has bought messaging app WhatsApp in a deal worth a total of $19bn (euro 14bn) in cash and shares. It is the social networking giant's biggest acquisition to date.

WhatsApp has over 450 million monthly users and is popular with people looking to avoid text messaging charges.

In a statement announcing the deal, Facebook founder Mark Zuckerberg described WhatsApp's services as "incredibly valuable".

WhatsApp allows users to send messages over internet connections, avoiding text messaging fees. The company claims it is currently registering one million new users a day.

WhatsApp has over 190 million monthly active users, 400 million photos are shared each day, and the messaging system handles more than 10 billion messages each day WhatsApp  has 400 million active users use the service each month

It makes money by charging users a subscription fee of $1 per year, although it offers a free model as well.

Read more: BBC News - Facebook to buy messaging app WhatsApp for $19bn