Facebook to acquire Giphy in a deal reportedly worth $400 million

Facebook to acquire Giphy in a deal reportedly worth $400 million
Facebook to acquire Giphy in a deal reportedly worth $400 million

Facebook to acquire Giphy in a deal reportedly worth $400 million

Facebook will acquire Giphy, the animated gif search engine and web-based platform provider, confirmed Facebook today, in an agreement worth around $ 400 million, according to an Axios report. Facebook said it did not disclose the terms of the agreement. Giphy has grown to become a central source of shareable and engaging content, and its animated response gifs are available on Facebook platforms, as well as through other apps and social services on the Web.

Facebook to acquire Giphy in a deal reportedly worth $400 million
Facebook to acquire Giphy in a deal reportedly worth $400 million

In particular, Giphy provides integrated search and sticker functions for Facebook’s Instagram and will continue to function in this capacity, as well as being available for its other apps through existing and additional integrations. People will still be able to upload their GIFs and Facebook intends to continue managing Giphy with its own brand and offer integration to external developers.

Facebook says it will invest in additional technological development for Giphy, as well as building new relationships for it from both the content and endpoint developers’ sides. The company says that 50% of the traffic that Giphy actually receives is already from Facebook apps, including Instagram, Messenger, the FB app itself and WhatsApp .

Giphy was founded in 2013 and was originally simply a GIF search engine. The first major product expansion of the website was an extension that allowed sharing via Facebook, which was introduced later in its founding year, and quickly added Twitter. as a second integration. According to Crunchbase’s most recent data, Giphy raised $ 150.9 million in five rounds, supported by funders including DFJ Growth, Light speed, Betaworks, GV, Lerer Hippeau and more.

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