In a play to dominate messaging on phones and the Web, Facebook Inc. has acquired WhatsApp for $19 billion, CNNMoney reports.

Five-year-old WhatsApp, a popular messaging app on smartphones, has held up against messaging heavyweights like Twitter Inc., Google Inc. and Microsoft Corp.'s Skype.

In the smartphone market, WhatsApp is second only to Messenger, Facebook's standalone messaging app for mobile devices.