In a deal worth a reported $400 million, Facebook has acquired GIF website Giphy with plans to further integrate the site across its apps. The acquisition was motivated, in large part, by the popularity of GIFs on Instagram. According to Facebook, Instagram accounts for 25% of Giphy’s traffic. “By bringing Instagram and Giphy together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct,” reads the press release.
Welcome to the family! For those wondering, GIPHY will continue to operate its library and relationships with content and API partners, so if you use GIPHY on other platforms, nothing will change. https://t.co/DR1e3wCrn9 pic.twitter.com/U6XWAohtzU
— Instagram Comms (@InstagramComms) May 15, 2020