Facebook Acquires GIF Sharing Platform Giphy For Around $400 Million

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Image source: Digitalinformationworld

We all know that Facebook is improving and modernizing it’s features day by day. It is on its campaign of conquering the whole internet. A few days back, Axios provided a report that Facebook is going to acquire Giphy for $400 million.

Giphy is nothing but the web-based animated gif search engine. However, there is also news that it has plans to integrate the Giphy library in Instagram and other Facebook-related services like WhatsApp and Messenger.

How Does This Feature Help?

Facebook’s integration with the giphy platform is continuing for a long time. The new upcoming platform allows its users to make, share, and edit GIFs. We know that after Facebook took over Messenger, WhatsApp, and Instagram, they all are working with the same library. In addition to that, Facebook mentions that about 50% of the Giphy traffic comes from the company’s services.

We all know that Giphy has grown to be a central source for shareable and highly-engaging content. However, Giphy’s animated response gifs are available across all Facebook’s platforms. These gifs turned out to be a new trend on other social apps and services on the web as well.

What Can Be The Future Scenario?

You don’t need to worry if you are already a giphy user. As per the news, Facebook doesn’t intend to do any drastic changes on the platform at least for the near future. So, for now, Giphy is going to be a part of the Instagram team. It also allows users to share GIFs in stories and even in private messages.

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However, in future, there are chances that the company expands Giphy’s presence in other services as well. Some say that, at least for Giphy-only users, the service will be integrated into one of the Facebook apps. So, we just need to wait and see what happens.

Will Facebook Invest Additional Tech Development For Giphy?

The answer to this question can be a ‘yes’. It is because Facebook mentions that it will invest in additional tech development for Giphy. Facebook also has plans to build out new relationships on both the content side and the endpoint developer side as well.

Facebook’s Strategy:

Facebook’s strategy of buying several platforms to grow up as a technological giant, is seen for a long time. If you recall, earlier, neither Instagram nor the WhatsApp is originally part of the social media. But then, Facebook purchases Instagram for around $1 billion. On the other hand, it also buys WhatsApp for $16 billion. So, comparing to these vast purchases, the GIF platform seems just like a weekend-purchase.

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