Facebook is adding another company to its empire and it is none other than the gif hub known as Giphy.
If you’ve used Messenger or Instagram, you’re probably more than aware of what Giphy is but the price it fetched is universally blowing minds because who would have thought that this concept was worth $400 million.
Naturally, while almost fully integrated into Facebook’s services already, Giphy will fully become part of Zuckerberg’s portfolio and will give us all access to one of the largest libraries of animated pictures anywhere. As FB said in its media release, “we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves.”
And, according to Facebook, the relationship can be quantified: 50% of Giphy’s traffic comes from Facebook’s various apps and services.
A press release about the purchase cited Giphy’s strengths in its niche, particularly the fact that: “We’ve used GIPHY’s API for years, not just in Instagram, but in the Facebook app, Messenger and WhatsApp. 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.”
Describing Giphy as providing a way to communicate and tell a story, Facebook will likely expand upon the service’s current offerings which, honestly, will be interesting to see. Gifs have been with us since the beginning pretty much, but they haven’t changed much.
What do you think of Facebook’s purchase? Would you expect a company that mainly trades in gif files to trade for such a high sum? Let us know your thoughts on this story in the comments section below if you like.
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