The largest social media platform is buying one of the largest GIF sites on the internet. Yes, that’s right: Facebook has announced that they are buying the popular GIF-making and sharing website Giphy for $400 million. The deal also includes plans to integrate the GIF library into Instagram and other Facebook apps. News of the deal was first reported by Axios, which revealed the $400 million value of the deal. For years now, Instagram, the main Facebook app, Facebook Messenger, and WhatsApp already work with Giphy. According to Facebook, 50 percent of all of Giphy’s traffic comes from its apps, with half of that coming from Instagram alone.
Facebook says that things will remain the same for Giphy users. “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,” Vishal Shah, Instagram’s VP of product, said in a blog post announcing the news. “GIFs and stickers give people meaningful and creative ways to express themselves,” Vishal Shah said. “We see the positivity in how people use GIPHY in our products today, and we know that bringing the GIPHY team’s creativity and talent together with ours will only accelerate how people use visual communication to connect with each other.”