Facebook Inc. (Nasdaq: FB), the world’s largest social network, agreed to acquire mobile-messaging application startup WhatsApp Inc. for $16 billion in cash and stock.

The deal also includes $3 billion more in restricted stock for WhatsApp’s founders and staff that will vest over four years, Menlo Park, California-based Facebook said today in a statement. More than 450 million people use WhatsApp, with 1 million new registered users being added daily, Facebook said.

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