Facebook adds GIF company Giphy to its portfolio in $400m deal

By Christian Joseph Wariaye   2 weeks ago   107
Technology - Top Stories

Tech giant Facebook announced on Friday that it had acquired the animated-image database Giphy in a deal that’s worth a reported $400 million.

New York-based Giphy — whose trove of looping clips of cute animals, bizarre cartoon characters and mugging celebrities are popular on social media and messaging apps — will remain its own brand under the deal, but will become more tightly integrated into Facebook’s apps.“GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves,” Instagram vice president of product Vishal Shah said in a blog post.

Among the popular GIFs on the platform are loops of Zuckerberg himself testifying on Capitol Hill, slowly drinking a glass of water and saying things like “That was a big mistake. And it was my The acquisition, first reported by Axios, will let Giphy continue to manage and operate its own library, according to Facebook. Giphy’s GIF library will still be accessible to other social networks like Twitter.

“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,” Shah said.

Giphy had raised around $150 million in private funding from venture-capital firms like Betaworks, Lerer Hippeau and Lightspeed Venture Partners. Its most recent private valuation was around $600 million, according to Axios.

[NewsNaira]



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Ledum Timothy
2 weeks ago

Hmmmmm this is a lot of money


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That is excellent


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Michael Owolabi
2 weeks ago

That's is excellent


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Chukwu Dera
2 weeks ago

That's a good deal


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John Williams
2 weeks ago

This is way huge


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Muhammad Aminu
2 weeks ago

Facebook adds


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Payment for the month


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Okoye Chidimma J
2 weeks ago

Much money 


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Orbunde Oryiman
2 weeks ago

This is a lot of money


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Facebook's planning on how to make more money


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Good way to make money


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Busari Adewale
2 weeks ago

Worth so much


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Good for the people


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Favour Kingdavid
2 weeks ago

wowwwwww intriguing na waoooo see money

 


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Dim Sammy
2 weeks ago

Wow, I guess my Facebook needs to be updated anytime soon


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Jakajjsdeiwwvbshaja


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Ben Rich
2 weeks ago

Four million dollars?


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Ogunsola Stephen
2 weeks ago

Yeah that's a lot of money oo


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Daniel Tyoapine
2 weeks ago

alot of money though..


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Who knows when the time comes


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