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Friday
May152020

Facebook acquires Giphy, reportedly for US$400 million

DateFriday, May 15, 2020 at 11:02AM

Facebook has acquired GIF-sharing service Giphy and plans to make it part of the Instagram team. Facebook didn't reveal how much it paid for to buy Giphy, but Axios reports that it's priced at around US$400 million. Giphy is expected to keep its branding, but it'll be primarily integrated into Instagram. GIFs are prevalent and used heavily in Instagram Stories, so having more access to a GIF-sharing service could work in Facebook's favour. We might expect to see it more integrated into other Facebook services as well.

Source: Engadget

AuthorNicole Batac | CommentPost a Comment |
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