50% of Giphy’s traffic comes from Facebook’s apps, and half of that comes from Instagram.
In a blogpost, Facebook has announced its decision to acquire Giphy (a popular website for making and sharing GIFs) and its integration with Instagram. Giphy’s GIF library will be integrated with Instagram and Facebook-owned apps.
The news website, Axios, estimates the acquisition cost to be around $400 million. API partners, developers and users will continue to retain access as they do now to Giphy, as per Vishal Shah, VP of product at Instagram.
Giphy’s existing integrations with social platforms like Twitter, Snapchat, and TikTok are not expected to change. As per TechCrunch, Giphy had refused an acquisition offer from Facebook back in 2015.
[2 minute read]