Facebook buys GIF company Giphy, to integrate it with Instagram
- The deal is valued roughly at $400 million.
Facebook has announced its acquisition of GIF platform Giphy and according to Axios, the deal is valued roughly at $400 million. GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team, Facebook announced in a post today.
Facebook has further said that they are planning to integrate Giphy into Instagram and other apps, “so that people can find just the right way to express themselves”.
“By bringing Instagram and Giphy together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct,” the company explained.
Giphy already is integrated on other social media platforms like Twitter, currently it is unclear if Facebook is going to end those relationships and keep Giphy restricted to its own apps.
We're so excited to share some news – GIPHY has been acquired by @Facebook and is joining the @Instagram team! 🎉— GIPHY (@GIPHY) May 15, 2020
Read more here: https://t.co/U6AYQ16cEQ pic.twitter.com/ATjEY1VK3K
Facebook has been using Giphy's application program interface for a while now through Facebook app, Messenger, Instagram and WhatsApp and first tried to acquire the company in 2015.
“In fact, 50% of Giphy's traffic comes from the Facebook family of apps, half of that from Instagram alone,” Facebook said.
“Giphy will continue to operate its library (including its global content collection), and we're looking forward to investing further in its technology and relationships with content and API partners. People will still be able to upload GIFs; developers and API partners will continue to have the same access to Giphy's APIs; and Giphy's creative community will still be able to create great content,” Facebook added.
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