Technet: Daily Crunch - Facebook is acquiring Giphy

Friday, May 15, 2020

Daily Crunch - Facebook is acquiring Giphy

Facebook to acquire Giphy in a deal reportedly worth $400 million

Facebook will acquire Giphy, the web-based animated GIF search engine and platform provider. The company confirmed the deal but isn’t disclosing the terms; Axios reports that it’s worth around $400 million.

Giphy has grown to be a central source for shareable, high-engagement content, and its animated response GIFs are available across Facebook's platforms, as well as through other social apps and services. Most notably, Giphy provides built-in search and sticker functions for Facebook's Instagram, and it will continue to operate in that capacity.

Facebook to acquire Giphy in a deal reportedly worth $400 million image

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Image Credits: MirageC / Getty Images (Image has been modified)

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