Facebook has just announced that it has bought Giphy, the popular platform for sharing animated GIFs. The social network led by Mark Zuckerber plans to integrate the platform on Instagram, as well as other company services.
Although Facebook did not reveal the values involved in the business, the international press says that the acquisition was around 400 million dollars. According to internal sources to which Axios had access, the purchase was already being planned even before the COVID-19 pandemic, despite initial plans for a partnership.
Facebook has been using Giphy's APIs on its platforms for some time now, including Messenger or WhatsApp. The company indicates that Facebook, for example, is responsible for 50% of all Giphy's daily traffic. Instagram is responsible for about 25%.
By joining Instagram and Giphy, we are helping users to more easily find the best GIFs for their Stories and messages, explains Vishal Shah, Head of Product of the social network. For now, Facebook does not plan to make the GIF sharing platform an exclusive service.
The company clarifies that the Giphy ecosystem remains open to all users and content creators. Developers, including those who have partnerships with companies such as Twitter, Slack, Skype, TikTok, Tinder and Samsung will also continue to have access to the vast content library on the platform.