Facebook has just acquired the animated GIF and/or short looping videos search engine GIPHY and it would integrate it in Instagram.
New York-based GIPHY is an online database and search engine that allows users to search for and share short looping videos with no sound, that resemble animated GIF files.
“We will continue to make Giphy openly available to the wider ecosystem,” Giphy said in a post on blogging website Medium.
— GIPHY (@GIPHY) May 15, 2020
Terms of the deal were not disclosed, but the news site Axios said the California-based tech giant was paying $400 million. GIPHY is known for its use of stickers and other products using the graphics interchange format or GIFs.
Facebook’s blog post said 50% of Giphy’s traffic already comes from Facebook’s apps, with half of that coming from Instagram.
“GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team,” Facebook said in a statement.
“GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves,” said Facebook to AFP.