Facebook Buys Text Messaging Service

Facebook has acquired the cross-platform mobile messaging company WhatsApp for approximately $16 billion.

More than 450 million people use the third-party text messaging service each month, and 70 percent of those users are active on any given day.

Third-party messaging services like WhatsApp have been in the licensing news lately with brands like Domo, Garfield and SpongeBob SquarePants partnering to offer branded digital stickers (large-sized emoticons) through similar platforms.