Facebook Buys Gif-Making Site Giphy For A Big Pricetag

Facebook has bought major GIF-making website Giphy in a deal thought to be worth $400 million.  Giphy’s user-uploaded library of animated images is already integrated and used widely by Facebook’s family of social media apps including Instagram.  Facebook confirmed Giphy will now become part of the Instagram team and that the integration will make it easier for users to find the perfect gif and stickers for stories.  According to the social media company, 50 percent of Giphy’s traffic already comes from Facebook’s platforms, with half of that from Instagram alone.  People can currently share Gifs from Giphy on Facebook rivals such as Twitter, Pinterest and Tumblr and the company confirmed that will continue.   Giphy, which launched in 2013, is expected to keep its own branding despite being part of the Instagram product team.

Photo Credit: Giphy

 

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Scott Fox and Kat Callaghan