Facebook announced that they are purchasing WhatsApp, one of the most popular messaging apps for about $16 billion.

The move “accelerates Facebook’s ability to bring connectivity and utility to the world,” Facebook said. Despite the acquisition WhatsApp will still operate and remain independent, Co-Founder and CEO Jan Koum will join Facebook’s Board of Directors. This isn’t new for Facebook, to make high value purchases; They purchased Instagram for $1 billion. WhatsApp has over 450 million people using the service every month, and 70% are active on any given day. According to Facebook’s release, WhatsApp is on track to “connect one billion people,” something aided by the fact it’s adding more than one million new registered users daily.