US social media and technology company Facebook buys the popular GIF website for creating and sharing Giphy for a reported $ 400 million price, with plans to integrate the massive GIF library into Instagram and other Facebook apps. According to the Verge, news of the deal was first reported by Axios, revealing the deal’s value at $ 400 million.
Provides tools for creating, sharing and remixing GIFs – Giphy is one of the largest GIF sites on the internet. Facebook has relied on Giphy’s API for finding GIFs in its apps for years: Instagram, the main Facebook app, Facebook Messenger and WhatsApp have all been working with the service.
50 percent of all Giphy’s traffic comes from its apps, half of which come only from Instagram, Facebook said. Under the new owner, Giphy will live on as part of the Instagram team, aiming to make it even easier to send GIFs and stickers in Instagram stories and instant messages.
Although Facebook says for now that things will remain the same for Giphy users. Vishal Shah, VP of Instagram, said in a blog post announcing the news, “People can still upload GIFs; developers and API partners will continue to have the same access to Giphy’s APIs , and Giphy’s creative community can still create great content. & # 39;
Additionally, a number of services rely on Giphy’s API to deliver GIFs, including Twitter, Pinterest, Slack, Reddit and more. While Facebook’s announcement seems to indicate that those services can still rely on Giphy the way they do now, at least for now. However, there may be some additional tension with those services in the future as several of them compete directly with Facebook. (ANI)