According to Axios, Facebook just spent $400 million to buy Giphy, letting Giphy’s operations unchanged, while people will still be able to upload their own GIFs.
The company will be able to use the online library on Facebook, Instagram, and Whatsapp, or other additional integrations. The social media platform has tried to buy the company back in 2015, but Giphy politely rejected the offer back then.
“GIFs and stickers give people meaningful and creative ways to express themselves. We see the positivity in how people use GIPHY in our products today, and we know that bringing the GIPHY team’s creativity and talent together with ours will only accelerate how people use visual communication to connect, ” Vishal Shah, Instagram’s vice president of product, said in a blog post.
According to Facebook, half of all Giphy’s traffic comes from Facebook Messenger, where the Giphy content is pretty popular.
Giphy was launched in 2013 as a search engine for gifs and soon became very popular among users, as an extension that allowed sharing via Facebook.