Facebook buys popular GIF platform Giphy for $400 million

Facebook buys popular GIF platform Giphy for $400 million

Facebook announced that Giphy’s library of content will soon be further integrated into Instagram and also the company’s other apps.

“We see the positivity in how people use Giphy in our products today, and that we know that bringing the Giphy team’s creativity and talent along with ours will only accelerate how people use communication to attach with one another,” Facebook said.

The deal to shop for Giphy totals around $400 million, in keeping with Axios, which first broke the news about the acquisition.

“We forestall to continuing to create your everyday conversations more fun, more entertaining, and more you — all from our new home at Instagram,” Giphy wrote during a blog post after the announcement.

Giphy hosts several graphic interchange formats, or GIFs, of all varieties of content from clips of TV shows to memes, which are commonly integrated into messaging apps to present users the simplest way to precise themselves.

This includes getting used in Facebook and its related apps, which the corporate says accounts for 1/2 all Giphy’s traffic.

Giphy is anticipated to take care of its own brand presence, with its own library of GIFs, and Facebook assures users that they're going to still be ready to upload GIFs which developers and other API users will still have the identical access to Giphy content as before.

“We will still make GIPHY openly available to the broader ecosystem,” the Giphy team confirmed.

“By bringing Instagram and Giphy together, we are able to make it easier for people to seek out the right GIFs and stickers in Stories and Direct,” Facebook said.

Facebook has not yet announced when Giphy are fully integrated into Instagram and its other apps.