On Friday, the 15th of May 2020, the Menlo Park, CA-based social networking behemoth, Facebook Inc. said in a blog post that the company was going to take over Giphy, a New York-based popular website that makes and shares animated images or GIFs.
As a matter of fact, at its Friday’s (May 15th) blog post, Facebook Inc. had not disclosed the financial terms of the acquisition deal, but a news website Axios had revealed in a report published late on Friday (May 15th) that the buyout deal was agreed at around $400 million, nonetheless, neither Facebook Inc.
nor Giphy had commented over the issue while being asked. On top of that, according to Facebook Inc.’s Friday’s (May 15th) blog post, Giphy would be integrated to Facebook Inc.-owned image sharing app Instagram, while the New York-based GIF makers vast GIF library would be added to all four apps owned by the Facebook Inc.
such as Facebook, Facebook Messenger, Instagram and WhatsApp. Meanwhile, as Facebook Inc.’s Friday’s blog post said that nearly half of Giphy’s traffic used to come from Facebook users, Instagram Vice President of product, Vishal Shah said on Friday (May 15th), “People will still be able to upload GIFs; developers and API partners will continue to have the same access to GIPHY’s APIs; and GIPHY’s creative community will still be able to create great content”.