Facebook continues to extend its reach by acquiring GIPHY for $400 million over the weekend. GIPHY is widely known as one of the most popular gif generators in the world today. By acquiring the gif generator, Facebook will have ownership of many of the world’s biggest social media platforms including Facebook, Instagram and Whats App.
We’re so excited to share some news – GIPHY has been acquired by @Facebook and is joining the @Instagram team! ?
Read more here: https://t.co/U6AYQ16cEQ pic.twitter.com/ATjEY1VK3K
— GIPHY (@GIPHY) May 15, 2020
GIPHY was founded in 2013 by Alex Chung and Jace Cooke. Over time, it’s become available in 32 languages. In addition, they have raised over $100 million for their efforts. Currently, the social media company has headquarters in New York and Los Angeles.
By joining the Facebook empire, the service’s large video library will be boosted by Facebook’s ad and marketing power. GIPHY will likely also become integrated across all of Facebook’s platforms including Instagram, Facebook and Whats App.
