Facebook buys GIF company GIPHY in a deal worth $400 million

Social media giant Facebook on Friday acquired the GIF-sharing service GIPHY, which will now be a part of the Instagram team.

IANS | May 16, 2020, 03:08 PM IST

Social media giant Facebook on Friday acquired the GIF-sharing service GIPHY, which will now be a part of the Instagram team. According to Axios, Facebook paid $400 million for the acquisition. Photo: Credit GIPHY

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Facebook GIPHY deal value

Facebook GIPHY deal value

According to Axios, Facebook paid $400 million for the acquisition. GIPHY which will now be a part of the Instagram team. Photo: Reuters

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Benefit for Facebook users

Benefit for Facebook users

`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,` Vishal Shah, VP of Product Facebook, said in a statement. Photo: Reuters

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GIPHY now part of Facebook Instagram Team

GIPHY now part of Facebook Instagram Team

Facebook used GIPHY`s API for years, not just in Instagram, but in the main Facebook app, Messenger and WhatsApp. Photo: Reuters

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GIPHY API partnership to continue

GIPHY API partnership to continue

GIPHY will continue to operate its library (including its global content collection), and the company looking forward to investing further in its technology and relationships with content and API partners. Photo: Reuters

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What users can get extra now

What users can get extra now

`People will still be able to upload GIFs; developers and API partners will continue to have the same access to GIPHY`s APIs; and GIPHY`s creative community will still be able to create great content,` Shah added. Photo: Reuters

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What GIPHY offers

What GIPHY offers

GIPHY is a searchable library of animated GIFS that have integrated with a variety of apps, such as Slack as well as Twitter. Facebook first attempted to acquire GIPHY in 2015, two years after it was founded. Photo: Reuters