Facebook has made a new acquisition, the social network has purchased Giphy in a deal which is apparently worth $400 million, Facebook has not revealed details on how much they paid for the company.
Giphy will join the Instagram Team at Facebook and the company has further plans to integrate Giphy’s Gif library into Instagram.
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. By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct. Both our services are big supporters of the creator and artist community, and that will continue. Together, we can make it easier for anyone to create and share their work with the world.
You can find out more information about Facebook’s acquisition of Giphy over at their website at the link below.