Friday, May 15, 2020

Facebook acquires popular GIF platform GIPHY & plans to integrate it with Instagram


GIPHY CEO
CEO of GIPHY

Facebook announced that it is acquiring animated-picture platform Giphy at a deal valued at $400 million (reported). People will still be able to upload their own GIFs, and Facebook intends to continue to operate Giphy under its own branding and offer integration to outside developers.

What is GIPHY

GIPHY is a search engine that allows users to search for and share short looping videos with no sound similar to animated GIF files. The company was founded in New York in 2013 and has emerged as on the most popular places for most people. 

GIPHY's library of GIFs can integrate with other apps. Companies like Slack and Twitter have built Giphy into their apps. Apple also uses some Giphy images for its GIF feature in iMessage. It’s unclear if Facebook will end those relationships to keep Giphy only on Facebook’s apps. The company did not announce any immediate platform changes. 

Most notably, GIPHY's repeating video clips have become a form of internet shorthand for expressing everything emotions to reactions. Facebook has been using Giphy's Application Program Interface (API) throughout its major app Facebook, Instagram and WhatsApp. The company also attempted to acquire Giphy in 2015 but had their offer declined.

With numerous services relying on GIPHY's API there may be some added tension with those services going forward given that several of them compete directly with Facebook.

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