The Facebook company has acquired GIPHY, the online database and search engine that’s focused on GIFs, for around USD 400 million.
Facebook notes that a lot of people in their community already know of GIPHY. 50% of GIPHY’s traffic comes from Facebook’s family of apps, with half of that coming from Instagram alone. Because of this, Facebook is bringing in the company to integrate it with its family of apps better.
Together, Facebook can make it easier for its users to find and share GIFs and stickers in Stories and Direct. The platform will also allow artists and creators to share their work with the world.
Read Facebook’s full blog post here.
