According to news report, for an amount of $400 million Facebook will buy web based animated gif search engine and platform provider - Giphy. Facebook did not disclose the terms of the deal. Giphy has grown to be a central source for shareable, high-engagement content, and its animated response gifs are available across Facebook’s platforms, as well as through other social apps and services on the web.
Giphy will continue to provide built-in search and sticker functions for Facebook’s Instagram. Giphy will also be available to other apps which belongs to Facebook through existing and additional integrations. 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.
For tech development of Giphy Facebook will invest and will also build out new relationships for it on both the content side and the endpoint developer side. The company says that fully 50% of traffic that Giphy receives already comes from Facebook’s apps, including Instagram, Messenger, the FB app itself and WhatsApp.
Giphy was founded in 2013, and was originally simply a search engine for gifs. The website’s first major product expansion was an extension that allowed sharing via Facebook, introduced later in its founding year, and it quickly added Twitter as a second integration. According to the most recent data from Crunchbase, Giphy had raised $150.9 million across five rounds, backed by funders including DFJ Growth, Lightspeed, Betaworks, GV, Lerer Hippeau and more.
