Facebook buys animated graphics startup GIPHY in $400 million
SAN FRANCISCO (AFP): Facebook said on Friday it had acquired the animated graphics startup GIPHY and would integrate the company in its Instagram visual social network.
Terms of the deal were not disclosed, but the news site Axios said the California-based tech giant was paying $400 million.
GIPHY is a platform and search engine for “stickers” and other products using the graphics interchange format or GIFs.
“GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team,” Facebook said in a statement.
“GIPHY makes everyday conversations more entertaining, and so 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.” GIPHY was created in 2013 “with a simple goal in mind: to make communication more fun,” a blog from the GIPHY team said.
“That’s why we’re thrilled to announce that GIPHY has been acquired by Facebook and is joining the team at Instagram.
“Instagram has revolutionized self-expression. More than one billion people use Instagram to communicate how they’re feeling and what they’re passionate about — we can’t wait to help those people become even more animated.”
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