Facebook is spending $19.5 billion on WhatsApp to grow its Messenger app, the company said Monday.
Facebook has about 2 billion users in over 40 countries.
WhatsApp is the app that connects you with friends in the same way Facebook and other messaging apps do, with stickers and a chat feature.
Facebook said WhatsApp will continue to grow in terms of revenue, adding that it plans to continue expanding Messenger in the future.
Facebook Messenger will be available for Android, iOS, Blackberry and Windows Phone starting in the fourth quarter of 2020.
WhatsApp will have “great capabilities” in the messaging space, Facebook CEO Mark Zuckerberg said in a statement.
WhatsApp’s growth has been driven by its mobile-first, photo-based messaging app.
Zuckerberg said the company has “a great and growing user base” for Messenger.
WhatsApp has had a rocky start to the new year, as it struggled with security issues, as well as concerns about its business model.
Zuckerberg is expected to talk more about the company’s plans for WhatsApp and its future in an interview with Yahoo Finance on Thursday.
WhatsApp shares fell 3 percent to $16.19 on Monday.