Facebook Acquires GIF-Sharing Service GIPHY for $400 Million
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Facebook has acquired one of the largest gif-sharing websites on the internet in a deal reported to be worth around $400 million, according to Axios, the first company to report the news.
Facebook declared in a blog post on Friday that GIPHY, which was created in 2013 and has since become the most popular website for finding and uploading gifs, will become part of the Instagram team with its user-uploaded library of animated images.
SEE ALSO: 25 BRILLIANT GIFS THAT EXPLAIN HOW STUFF WORKS
Instagram and GIPHY to unite
Facebook executive Vishal Shah wrote, "By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct. 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."
Instagram team and GIPHY had close business relations already since the GIF platform provided a built-in sticker function for Instagram before.
GIPHY will continue its own branding
Moving forward, GIPHY will continue to use its own branding and everything else will stay the same except, now, they'll also find new ways to integrate deeper into Instagram.
As Facebook, in its blog post, stated: “GIFs and stickers give people meaningful and creative ways to express themselves.” Let's take a look at what GIPHY adds to our lives, in the engineering way:
1. Hotline Bling - engineer Drake edition
2. A new class: Engineer. The ultimate all-nighter, good at STEM, and asks a lot of questions.
3. Oh, no...
4. The engineer who built that bridge probably:
5. Sylvester, you too?
6. The face of "Please work, work, work..." during the finals
7. So much chaotic energy...
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