Popular GIF sharing platform GIPHY is now the part of the Facebook family for around 400 million. Although that was a partnership rather than an acquisition. GIPHY now be a part of the Instagram team.
Axios reported the news and then confirmed by Facebook on their official blog post while they did not disclose the financial terms.
— Facebook (@Facebook) May 15, 2020
- It is expected that GIPHY retains its branding, with its first integration with Instagram Platform.
- Facebook plans to integrate Giphy’s extensive GIF library into Instagram and other Facebook-owned apps.
- Facebook claims almost 50 per cent of Giphy’s traffic comes from Facebook’s apps, and half of that comes from Instagram alone. “By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct,” says Vishal Shah, Instagram’s VP of Product in a blog post
Giphy user will continue to upload and share GIFs just like how it is now
“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,” Vishal Shah added in the blog post.
Giphy’s primary competitor in the market Tenor got acquired by Google in 2018. with facebook ownership of Giphy, the competition going to be very high.