If a picture is worth a thousand words, what?s a GIF worth? Apparently hundreds
of millions of dollars.
Facebook has agreed to a deal with Giphy to acquire the GIF platform for $400
million, according toAxios
The report points out how Giphy was last valued at $600 million and had received
around $150 million in funding since it launched in 2013.
> We?re so excited to share some news ? GIPHY has been acquired by @Facebook
[https://twitter.com/Facebook?ref_src=twsrc%5Etfw] and is joining the @Instagram
[https://twitter.com/instagram?ref_src=twsrc%5Etfw] team! ??
Read more here: https://t.co/U6AYQ16cEQ pic.twitter.com/ATjEY1VK3K
? GIPHY (@GIPHY) May 15, 2020
[https://twitter.com/GIPHY/status/1261305532230635523?ref_src=twsrc%5Etfw] According to Giphy?sannouncement
[https://medium.com/@giphy/giphy-to-join-facebook-as-part-of-the-instagram-team-e7ea8d32d7b6] , the company and its employees will join Instagram?s team and be integrated
into that platform.
It will be interesting to see how Facebook?s acquisition affects Giphy?s many
partnerships with competing social networking and messaging platforms. Last
summer, the GIF companyannounced
[https://techcrunch.com/2019/08/01/tiktok-adds-giphy-integration-to-import-stickers-and-export-tiktok-memes-to-the-rest-of-the-world/] a partnership with social video platform TikTok. Giphy also integrates with
other social platforms like Twitter and messaging services like Slack.