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Facebook buys GIPHY for $400 million

Facebook, GIPHY

Facebook is an American online social media and social networking service which was launched in February 4, 2004; 16 years ago with more than 2.50 billion monthly active users.

GIPHY, is an American online database and search engine that allows users to search for and share short looping videos with no sound, that resemble animated GIF files founded in 2013; 7 years ago. On 15 May 2020, GIPHY was acquired by Facebook for a reported $400 million.

Facebook, GIPHY

Half of GIPHY’s traffic comes from Facebook-owned apps with Instagram making up 50% of that figure. After the transaction closes, people will still be able to upload GIFs, and developers and partners will still have access to GIPHY’s APIs. More importantly, GIPHY’s creative community will still be able to create the usual “great content.”Facebook purchased Instagram for $1 billion in what turned out to be one of the biggest steals in the history of technology. Facebook says, “By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct.”

 

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