Facebook has acquired GIF sharing platform Giphy in a deal worth a reported $400 million (via Axios). Later confirmed by Facebook, Giphy will be integrated ‘as part of the Instagram team’ and is expected to retain its branding.
Making Facebook’s intentions clear, Vishal Shah, Instagram’s VP of product said, “By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct.”
Giphy’s archive of sharable animated images (GIFs) is popular across many services including Messenger, WhatsApp and Instagram, all of which are Facebook-owned. The service is expected to seamlessly continue to work on these apps, but there is question as to whether integration with rival platforms like Twitter and Slack will continue.
As well as sharing existing GIFs, Giphy lets you create your own moving masterpieces, something that Facebook may look to better streamline within its own apps.
Shah added, “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.”