Facebook has announced that it is going to acquire ‘Giphy’, the web-based GIF search engine and platform provider. Facebook confirmed the deal with $400 and will not disclose the terms of the deal.
Giphy started by being an online GIF search engine in 2013. It was first expanded to sharing via Facebook. And as a second integration, including Twitter. Giphy has been a central source that allowed animated and high-engagement content. Its animated response GIFs are all over Facebook and other social apps and platforms on the web.
Most importantly, Giphy provides built-in search and sticker functions for the former’s Instagram. And the Giphy will operate in the same capacity with additional features as part of the Instagram team. Giphy will also serve with existing and additional features on other apps of Facebook. People will be able to upload their own GIFs. Facebook intends to continue to operate Giphy under its brand name.
The company said that 50% of network traffic comes from Facebook’s apps. Facebook declared that it will invest and support further developments in the Giphy, but under its brand name.
Giphy had raised $150.9 million in 5 rounds backed by many funders including DFJ Growth, Lightspeed, Betaworks, GV, Lerer Hippeau, and more.
