Facebook was probably in a buying mood again: The company announced in a press release that the internet giant had taken over the GIF specialist Giphy. According to a report by Axios, the takeover is said to have cost approximately $ 400 million. It could have been a bargain: The company’s value was last valued at around $ 600 million.
Facebook claims that 50 percent of Giphy’s total traffic already comes from different Facebook platforms, half of which fall back on Instagram. The takeover should make it even easier, especially for Instagram users, to add animated GIFs and stickers to stories and private messages.
Nothing is currently changing for existing Giphy users: users can still upload their own GIFs, developers will continue to be able to use the API for the foreseeable future to enrich their apps with animated GIFs. This should be a relief for many companies because Twitter, Slack, and Reddit are just a few of Giphy’s many prominent customers.
The Giphy brand remains the same, as does the website, where you can still find, upload, or even create GIFs. With the takeover, however, one can expect even deeper integration in Facebook, WhatsApp, and Instagram in the coming months.