According to Facebook’s news site, the social media giant has snapped up .GIF website Giphy in a deal estimated by Axios to near $400 million USD. With the purchase comes plans to integrate the service into Facebook’s various platforms, including Instagram.
According to Axios, a source hinted that Facebook and Giphy began discussing a potential partnership before the coronavirus pandemic and these talks blossomed into the acquisition. As explained by Facebook itself, “We’ve used GIPHY’s API for years, not just in Instagram, but in the Facebook app, Messenger and WhatsApp.”
Giphy is expected to retain its own branding and it will “operate its library” of animated images independently of Facebook. Similarly, its .GIF uploading functionality and community features will reportedly remain unchanged.
Meanwhile, Facebook recently made waves by joining other tech giants in allowing employees to work from home for the rest of the year.
Welcome to the family! For those wondering, GIPHY will continue to operate its library and relationships with content and API partners, so if you use GIPHY on other platforms, nothing will change. https://t.co/DR1e3wCrn9 pic.twitter.com/U6XWAohtzU
— Instagram Comms (@InstagramComms) May 15, 2020