ICYMI: Facebook purchases Giphy for $400 million
May 17, 2020
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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.

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.

by Victor Philip Ortiz
Tech Enthusiast and Movie Buff. When he’s not busy playing with the latest games, Victor usually spends his time collecting Blu-rays and building his own movie library. As the Online Editor for T3 Middle East, he develops and writes content for www.T3ME.com which includes reviews, features, and videos in addition to managing its social media and web content.
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