Facebook said on Friday that it has agreed to buy Giphy a popular GIF-producing platform. The social network giant said that Giphy will join the company as part of its Instagram team.
“By combining Instagram and GIPHY, we can make it easier for people to find the perfect GIF stickers in Stories and Direct,” Vishal Shah, Facebook’s product manager, wrote in a blog post.
The measure is worth about $ 400 million, according to Axios, who reported the acquisition earlier. It was reported that the two companies started talking about a partnership before the coronavirus pandemic.
Giphy said in a blog post that his platform will remain “openly accessible to the broader ecosystem” and assured people that GIFs, stickers, emojis, and other content they created will never leave.
Facebook said it plans to integrate the Giphy library with GIF on Instagram and other apps.