Facebook has bought Giphy for $400 million, plans to integrate it with Instagram

HIGHLIGHTS

Facebook has acquired the GIF-making site, Giphy

The deal was reported to be for around $400 million

The company plans to integrate the service with Instagram

It looks like Facebook is on a buying spree and has set its sights on Giphy, the popular GIF-making and sharing site. The company is reportedly shelling out $400 million for the website and is looking to integrate it with Instagram and other apps owned by Facebook. The news was first reported by Axios. The company says that integration with Instagram is “so that people can find the right way to express themselves”. Giphy will also continue to run its library, for now. 

The popular Gif-making website is essentially a repository of GIFs that can be shared on other applications and even companies like Slack and even Twitter have Giphy built into their systems. In fact, Facebook, Instagram, Messenger and WhatsApp already include the service in all their apps. Vishal Shah, Instagram VP of product said in a blog post, “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.”