Giphy is one of the biggest websites for sharing GIFs.
Just last weekend, Facebook has officially announced plans to acquire popular GIF sharing site Giphy to a tune of $400 million. Axios first reported the deal that was announced last Friday. Giphy currently has more than 7 million users that use the website and its app to share GIFs, which has now become a standard way to talk to someone.
Giphy is also used by various websites like Twitter and Slack. Apple also uses Giphy to search for GIFs on iMessage. It wasn’t made clear though if Facebook will be discontinuing support on these platforms – but Instagram said that third-party support will continue.
Welcome to the family! For those wondering, GIPHY will continue to operate its library and relationships with content and API partners, so if you use GIPHY on other platforms, nothing will change. https://t.co/DR1e3wCrn9 pic.twitter.com/U6XWAohtzU
— Instagram Comms (@InstagramComms) May 15, 2020
In a statement, Facebook VP of Product Vishal Shah said, “A lot of people in our community already know and love GIPHY. In fact, 50% of GIPHY’s traffic comes from the Facebook family of apps, half of that from Instagram alone. By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct. Both our services are big supporters of the creator and artist community, and that will continue. Together, we can make it easier for anyone to create and share their work with the world.”
It also mentioned that Giphy will have a deeper integration with the Instagram app for use on Stories. Facebook originally wanted to acquire Giphy in 2015.