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Thursday, October 29, 2020

Facebook buys Giphy for $400m, to integrate with Instagram

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Facebook has purchased Giphy, an animated graphics firm, with a view to integrating the platform with Instagram, its photo and video-sharing social networking service.

The multinational US company broke the news on Friday in a blog post, adding that it will allow much of Giphy’s operations go unchanged, including the ability for users to upload GIFs.

“GIPHY, a leader in visual expression and creation, is joining the Facebook company today (Friday) as part of the Instagram team,” the company’s statement read.

“A lot of people in our community already know and love GIPHY. In fact, 50% of GIPHY’s traffic comes from the Facebook family of apps, half of that from Instagram alone.

“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. Together, we can make it easier for anyone to create and share their work with the world.

“GIPHY will continue to operate its library and we’re looking forward to investing further in its technology and relationships with content and API partners.

“People will still 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 had initiated talks with Giphy in a $400 million deal prior to the pandemic, although the arrangement had first proceeded as a partnership than an acquisition.

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