Plus233 - Ghana's No.1 News Hub
Subscribe
  • Latest
  • Health
  • News
  • Love Therapy
  • World
  • Africa
Wednesday, Jul 9, 2025
Plus233 - Ghana's No.1 News HubPlus233 - Ghana's No.1 News Hub
Font ResizerAa
Search
Follow US
Technology

Facebook is buying GIF company Giphy for $400 million

Courage Bansah
Last updated: May 19, 2020 10:50 pm
Courage Bansah
Share
SHARE

Facebook on Friday announced that it had acquired the massive animated-image database Giphy in a deal that’s worth a reported $400 million.

New York-based Giphy — whose trove of looping clips of cute animals, bizarre cartoon characters and mugging celebrities are popular on social media and messaging apps — will remain its own brand under the deal, but will become more tightly integrated into Facebook’s apps.

“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,” Instagram vice president of product Vishal Shah said in a blog post.

Among the popular GIFs on the platform are loops of Zuckerberg himself testifying on Capitol Hill, slowly drinking a glass of water and saying things like “That was a big mistake. And it was my mistake.”

- Advertisement -

The acquisition, first reported by Axios, will let Giphy continue to manage and operate its own library, according to Facebook. Giphy’s GIF library, will still be accessible to other social networks like Twitter.

“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,” Shah said.

Giphy had raised around $150 million in private funding from venture-capital firms like Betaworks, Lerer Hippeau and Lightspeed Venture Partners.  Its most recent private valuation was around $600 million, according to Axios.

Shares of Facebook went up nearly 2 percent on Friday, closing at $210.88.

SOURCE: nypost.com

- Advertisement -
//

We influence 20 million users and is the number one business and technology news network on the planet

Share This Article
Facebook Copy Link Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




Let's Connect

304.9kLike
3.04MFollow
304.9kPin
844.87MFollow
40.49MSubscribe
39.5kFollow

Popular Posts

Profile: Charlotte Kesson-Smith Osei

Kweku Jasper
6 Min Read

PRESS RELEASE BY KETA MUNICIPAL ASSEMBLY ON SUSPECTED COVID-19 CASE AT ABUTIAKOPE

Kweku Jasper
5 Min Read

10 more SHSs hit by COVID-19 … Ho Mawuli, Bishop Herman, Archbishop Porter Girls among others affected

Kweku Jasper
5 Min Read

Important Places You Should Know On Central University Campus

Kweku Jasper
2 Min Read

You Might Also Like

Technology

NITDA investigating alleged privacy breach by Truecaller

3 Min Read
Technology

How Truecaller might have cost this Nigerian user over $13,000

6 Min Read
LatestTechnology

How to export your iPhone contacts to Excel or a CSV file

7 Min Read
How To Know If Your WhatsApp Account Has Been Hacked And How To Fix It
LatestTechnology

Alert: Why You Must Not Open This ‘Scary’ New WhatsApp Message

4 Min Read

Social Networks

Facebook-f Twitter Gitlab Youtube Medium Telegram Twitch Rss

As Seen On

Plus233 - Ghana's No.1 News Hub
Plus233 - Ghana's No.1 News Hub
Plus233 - Ghana's No.1 News Hub
Plus233 - Ghana's No.1 News Hub

Ghana West Africa

Plus233 - Ghana's No.1 News Hub
Plus233 - Ghana's No.1 News Hub
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?