Facebook has agreed to buy the US-based Giphy platform of shareable images. The company didn't say what was the acquisition's price, but Axios reports that Facebook paid USD 400 million. The platform is expected to keep its own branding and join Facebook's Instagram team. Facebook said it plans to further integrate Giphy's GIF library into Instagram and its other apps. It added that 50 percent of Giphy's traffic comes from the Facebook family of apps, half of that from Instagram alone.
Giphy will continue to operate its own library, including its global content collection. Facebook said it’s looking forward to investing further in Giphy's technology and relationships with content and API partners. 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, the company added.
