Facebook has announced that they’ll be acquiring GIF-sharing and making site, Giphy.
This news comes shortly after Axios reported that Facebook would spend $400 million to buy Giphy.
In the past few years, Facebook has worked with Giphy to implement its API in Instagram, the Facebook app, Messenger and WhatsApp.
Around 50% of Giphy’s traffic comes with Facebook’s suite of apps mentioned. With half of that coming from Instagram alone.
The company says Giphy will continue to operate as normal including operating their library of Gifs and Facebook will help further invest in Giphy’s “technology and relationships with content and API partners.”
In the blog post, Facebook said, “People will still be able to upload GIFs; developers and API partners will continue to have the same access to GIPHY’s APIs, and GIPHY’s creative community will still be able to create great content.”
Once the acquisition is complete, Giphy’s primary integration will be with Instagram, which will make it easier for users to find GIFs and stickers to use in their Stories.
Source: Facebook Newsroom via Axios