By Noel Young

In its biggest acquisition so far, Facebook is buying WhatsApp, a messaging start-up, for $16 billion in cash and stock.

The “eye-popping price” marks a new height in the frenzy to acquire popular technology start-ups, said the New York Times.

The deal further emphasises the social network’s mobile push, said the Wall Street Journal.

WhatsApp allows users to send text messages free over the Internet, bypassing wireless carriers that may charge users to send messages over their networks. Texting apps, said the WSJ, are especially costing wireless carriers, which for years relied on the services for the bulk of their Read full story ›

Source: The Drum