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Facebook to buy Giphy in a deal worth $400 million
May 18, 2020
Facebook will buy Giphy, the internet-based animated gif search engine and Platform Company, Facebook confirmed today, in a deal worth round $400 million. Facebook said it isn’t disclosing terms of the deal.
Giphy has grown to be a relevant source for shareable, high-engagement content material, and its animated reaction gifs are available throughout all Facebook’s platforms, in addition to different social apps and offerings on the internet.
Facebook says it’s going to invest in additional tech improvement for Giphy, in addition, to construct out new relationships. The business enterprise says that fully 50% of traffic that Giphy gets already comes from Facebook’s apps, including Instagram, Messenger, the FB app itself, and WhatsApp.
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