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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