Facebook has announced the purchase of GIF platform Giphy. The deal is values roughly at $400 million, according to Axios.
The company announced in a post that GIPHY is joining the company as part of the Instagram team.
“By bringing Instagram and Giphy together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct,” the company said.
Giphy already is integrated on other social media platforms like Twitter. For now, it is not clear whether Facebook will end those relationships or not. Or whether it will keep Giphy restricted to its own apps.
Also, GIPHY posted on its twitter regarding it along with a GIF.
“In fact, 50% of Giphy’s traffic comes from the Facebook family of apps, half of that from Instagram alone,” Facebook said.
“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,” Facebook added.
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