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Facebook is acquiring popular GIF platform Giphy for $400 million

Facebook is planning to acquire the American-based company Giphy. Giphy is a web-based animated gif search engine and platform provider. The users are then able to send short looping videos without sound that resemble animated GIFs.

Giphy successfully produces something which is known as ‘conversational content’ which is brought in by users while they’re having conversations with one another. The social networking site Facebook was successful in closing the deal worth $400 Million with Giphy. We’re unaware of the other details of the deal right now since Facebook refuses to reveal any further information.

via GIPHY

We will continue to make GIPHY openly available to the wider ecosystem

GIPHY

The company further adds that a total of 50% of Giphy’s traffic comes from Facebook’s apps, including Instagram, Messenger, the Facebook app itself, and WhatsApp.

Indeed, Giphy which was originally just a search engine for gifs has evolved itself and grown in terms of its popularity since it’s an extension with Facebook that facilitated the process of sharing more content.

The highly-shareable content produced by the app which doesn’t fail in terms of keeping its users engaged is available across all the platforms of Facebook along with other social media apps.

No wonder it’s growing popularity among the masses has led to this acquisition! Giphy also provides build-in search and sticker functions for Facebook’s Instagram and would further continue to do so.

The closing of this deal would further mean that Giphy can now be used on all the apps of Facebook and people can share their gifs anywhere. Facebook also intends to invest in the tech-development of Giphy and work closely with the Content Team and the Developers.

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