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Facebook Buys Giphy For Nearly Half A Billion Dollars

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3 years ago

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Facebook has closed a deal to acquire the online GIF library and maker, Giphy, which powers the animated GIF inside of Facebook comment sections, Instagram stories, WhatsApp Messenger and many of its other apps.

“GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team. GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps” said Vishal Shah, VP of Product, wrote in a press release announcing the acquisition. Facebook will allow much of Giphy’s operations to go unchanged according to Vishal. “We’ve used GIPHY’s API for years, not just in Instagram, but in the Facebook app, Messenger and WhatsApp. GIPHY will continue to operate its library (including its global content collection), and we’re looking forward to investing further in its technology and relationships with content and API partners. 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.”

According to Axios, Facebook paid a total of $400 million for Giphy and this isn’t the first time that Facebook has gone after Giphy either. Facebook unsuccessfully tried to buy the company back in 2015, but Giphy CEO Alex Chung rejected the offer. Nearly five yearly later it looks like Alex holding out was a good idea, with Zuckerberg paying significantly more this time around.

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Founder & Editor-In-Chief of Disrupt Magazine Tony Delgado is a Puerto Rican American software developer, businessman and activist. He has been the host of Disrupt Podcast where he interviews some major players in tech industry who are making waves around world with their innovative ideas to change the world. Inside the Disrupt Podcast is where you'll find inspiring guests who are making big impacts within tech industries as well! Tony has built a following of over a million entrepreneurs on social media, and helped businesses sell hundreds of millions of dollars online. Tony Delgado is not just a social media influencer, he's also an entrepreneur and philanthropist. His work in Puerto Rico after Hurricane Maria made him realize how important it was for young people on the island to have access to affordable education and internet. Tony hosts regular seminars & workshops throughout the island of Puerto Rico.

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