Facebook to buy Giphy for $400 million

Facebook to buy Giphy for $400 million”

Facebook already offers Giphy's GIF library in its messaging products but said owning the service outright would make it "easier for people to find the flawless GIFs and stickers" in Stories and direct messages.

In its official statement, Facebook says that GIPHY will be absorbed and made a part of the brand's Instagram division.

Facebook announced that it has officially acquired GIPHY, the platform famed for its massive library of animated images, or GIFs.

People can now share Gifs from Giphy on Facebook rivals such as Twitter, Pinterest and Tumblr and the company confirmed that will continue.

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A few weeks after investing a whopping $5.7 billion in India's Reliance Jio, Facebook is now buying Internet GIF repository, GIPHY, for $400 million. Both GIFs and stickers are supported in Facebook and Instagram Stories, as well as in direct messaging.

GIFs and stickers give people meaningful and creative ways to express themselves, according to the Facebook team.

The blog post suggests that Facebook won't take away access to GIPHY from other developers, at least for now. "We've used GIPHY's API for years, not just in Instagram, but in Facebook app, Messenger and WhatsApp".

'Based on the success of those collaborations (and many others) we know that there are exciting times ahead of us'.

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