Facebook is acquiring Giphy, one of the most popular GIF-sharing sites on the web, in a deal that’s reportedly valued at US$400 million.
In Facebook’s official announcement, the company revealed that Giphy will be joining the Instagram team: “GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team.”
Facebook went on to state Giphy’s library will be further integrated with Instagram, as well as the company’s other 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 and Facebook already utilize Giphy’s library – over half of Giphy’s traffic comes from the Facebook family of apps. Facebook plans to continue this integration in a way that further enhances the user experience.
“By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct. We’ve used GIPHY’s API for years, not just in Instagram, but in the Facebook app, Messenger and WhatsApp.”
The deal is currently facing a lot of backlash from democratic senators.
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