TODAY

TODAY   |  February 20, 2014

Facebook to buy WhatsApp for $16 billion

On Wednesday, social media giant Facebook announced it’s buying popular messaging service WhatsApp for $16 billion. CNBC’s Julia Boorstin reports.

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>> some big news from the tech world. facebook disclosed yesterday it is buying the instant messaging service what's app in a deal worth $16 million. julia is in burbank with the details. good morning.

>> reporter: facebook is spending $16 for whatsapp. it's free for the first year and then charges 99 cents per year. they are gaining 450 million monthly users and they're highly engaged. it's growing faster than any other service. whatsapp has nearly twice the number of users as twitter.