Facebook buy GIFY for $400 Million

The social media giant Facebook today announced the acquisition of popular GIF platform GIPHY in a deal worth $400 million. Known for its visual expression and creation, GIPHY will be a part of the Instagram team from now on. However, Facebook said that it isn’t disclosing terms of the deal.

Facebook has recently announced the acquisition of the popular GIF platform GIPHY in a $400 million worth deal. GIOHY has been known for its visual expression and creation but from now on, this is going to be a part of Instagram team. While Facebook denies to disclose the terms of deal.

According to Facebook, bringing Instagram and GIPHY together can make it easier for people to find the perfect GIFs and stickers in Stories and Direct. “Both our services are big supporters of the creator and artist community, and that will continue. Together, we can make it easier for anyone to create and share their work with the world.”

On post-acquisition, GIPHY will continue to operate its library (including its global content collection), and Facebook will invest in its technology and relationships with content and API partners.

Users will still be able to upload GIFs and developers and API partners will continue to have the same access to GIPHY’s APIs. The VP of the of the product for Instagram, Vishal Shah said that "GIFs and stickers give people meaningful and creative ways to express themselves. We see the positivity in how people use GIPHY in our products today, and we know that bringing the GIPHY team’s creativity and talent together with ours will only accelerate how people use visual communication to connect with each other."