Fashion Facebook Acquires GIF-Sharing and Creation Platform GIPHY for $400M

Fashion Facebook Acquires GIF-Sharing and Creation Platform GIPHY for $400M

Fashion

Facebook today announced that it has acquired the popular GIF sharing platform GIPHY, and it will be joining the Instagram team. Instagram has supported GIPHY search in Stories for years now, but Facebook said it will “further integrate” the platform’s GIF library into Instagram and other Facebook apps.

The sum of the GIPHY acquisition by Facebook is reportedly around $400 million, according to Axios.

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The company aims to eventually make it even easier to find GIFs and stickers in Instagram Stories and direct messages. GIPHY will continue to operate its own library of GIFs and stickers, while Facebook will invest in the company’s technology and relationships with content and API partners.

On Facebook, GIPHY access allows users to search for and post GIFs in comments. Both GIFs and stickers are supported in Facebook and Instagram Stories, as well as in direct messaging. Likewise, Facebook-owned WhatsApp supports GIFs in a similar fashion.

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