Facebook announced buying Giphy, a well-known web-based gif search engine provider. Giphy is known for its animated Gifs and platform from where users can create, upload and download gifs.
Facebook announced that the deal is of around 400 Million dollars. The terms and conditions of the deal have not been revealed yet.
Facebook Buys Giphy for 400 Million Dollars
Over the years, Giphy has become one of the most famous and usable sources of high engagement content in web-based images. The animated response gifs from the company are embedded in Facebook, Messenger, WhatsApp, Instagram, and various other social media apps and services on the internet.
Giphy is already used in Facebook Apps,
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Giphy built-in search and animated stickers are available on Instagram, and the features will continue to work in the photo-sharing app. Giphy will also be provided in the various apps from Facebook. The company is seemingly going to operate Giphy under its branding and facilitate the integration to external apse etc. Users would also be able to upload their gifs in the system.
Facebook to enhance Giphy
Facebook announced that it would work towards enhancing the interface and platform of Giphy by providing extra technology and development and create new contracts for it. As per Facebook, already half of the traffic on Giphy is from its main social media network and its other apps like WhatsApp, Messenger, and Instagram.
Facebook Integration a turning point for Giphy
Giphy was founded in 2013 and served as a search platform for gifs on the web. However, later it was available as an extension that allowed sharing through Facebook. Later it added a similar feature for Twitter.
A profitable deal for Facebook
Giphy has an enormous video library which is used by millions of users who interact with each other using billions of GIFs. This helps the company to generate revenue through branded content. With the integration of the Facebook Ad Sales and marketing technology, Giphy can evolve from a popular gif sharing service to a highly profitable subset for the tech giant.
Facebook gets access to more user data.
It also gives Facebook access to humungous data as billions of users use Giphy across various social media platforms other than those owned by Facebook like Twitter, Snapchat, etc.