Facebook Acquires GIPHY, Could Help Brands Develop Customized Ads

Facebook Acquires GIPHY, Could Help Brands Develop Customized Ads
Facebook by Simon Steinberger is licensed under Pixabay Pixabay
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Encouraging users to share lighter fare, Facebook Inc. is buying the GIF platform GIPHY.

Financial terms of the deal are not being disclosed, but sources tellAxios that the acquisition cost Facebook about $400 million. 

Per the deal, GIPHY will be folded into Facebook’s Instagram unit, while its massive library of animated images will be made available to the company's broader network of apps.

Vishal Shah, vice president, product at Facebook, said the deal was a no brainer.

“We’ve used GIPHY’s API for years,” Shah said on Friday. “Fifty percent of GIPHY’s traffic comes from the Facebook family of apps, half of that from Instagram alone.”

“By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct,” he added.

With GIPHY in tow, Facebook also plans to make it easier for average users to create and share new content.
Read more at MediaPost

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