Facebook has acquired Giphy, a platform on which you can find millions of animated GIFs. Financial terms were not disclosed but Axios reports that the operation cost around $ 400 million (just under $ 400 million).
Facebook aims to integrate Giphy with Instagram, making it easier to embed GIFs and stickers in Instagram Stories and direct messages. Giphy should keep its brand, APIs and GIF image datahase accessible.
Vishal Shah, vice president of Facebook, reports that 50% of Giphy's traffic comes from the Facebook family of apps and half of this from Instagram alone.
"We have used Giphy's API for years, not only in Instagram but in the Facebook app, Messenger and WhatsApp," explains Shah. "Giphy will continue to manage its library (including its global content collection) and we look forward to further investing in its technologies and relationships, with content and APIs for partners. People will be able to continue uploading GIFs; for developers nothing changes and the partner APIs will continue to work.
Giphy was founded by Alex Chung and Jace Cooke in February 2013. "Giphy's creative community will still be able to create great content," said Vishal Shah again.
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