Facebook has just bought GIPHY, the popular GIF-sharing platform. According to the announcement, the company plans to integrate it into Instagram, making it easier to find and use gifs in this app. The details of the price haven’t been disclosed, but an official information is that it cost Facebook $400 million.
Axios shared the alleged price of the acquisition before the news even became official. Facebook later announced it on the blog, but of course, without going into financial specifics. Vishal Shah of Facebook writes:
“A lot of people in our community already know and love GIPHY. In fact, 50% of GIPHY’s traffic comes from the Facebook family of apps, half of that 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.”
GIFs from Giphy have already been a part of Instagram, particularly its Stories. However, the Facebook app, Messenger and WhatsApp have also use GIPHY’s API for years, Shah explains.
“GIPHY will continue to operate its library (including its global content collection), and we’re looking forward to investing further in its technology and relationships with content and API partners.”
But what about GIPHY ? What will change? Shah writes that “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.” I assume that it will also get Stories and a gazillion ads like Instagram and Facebook, but let’s cross that bridge when we get to it.