Facebook has just bought popular GIF-making and sharing websites which the company plans to integrate the massive GIF libraries into Instagram and other Facebook apps. Although Facebook didn’t reveal how much it paid for Giphy, Axios reports that the price was $400 million.
Giphy is one of the largest GIF sites on the internet, offering tools for creating, sharing, and remixing GIFs. From the past few years, Facebook has been using the Giphy’s API for sourcing GIFs in its apps. Most of its popular apps including Instagram, the Facebook app, Facebook Messenger, and WhatsApp already work with the service. The social media giant revealed that 50 percent of all of Giphy’s traffic comes from its apps, with half of that coming from Instagram alone.
And now, with the complete ownership of the platform, Giphy will live on as part of the Instagram team, with the goal of making it even easier to send GIFs and stickers in Instagram stories and direct messages. As of now, Facebook says that Giphy users will not see any changes in their usage.
“People will still be able to upload GIFs; developers and API partners will continue to have the same access to Giphy’s APIs; 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.
Apart from Facebook, many other services rely on Giphy’s API for supplying GIFs, including Twitter, Pinterest, Slack, Reddit, and more. Well, looking over Facebook’s announcement, these services will continue to work as they currently do, at least for now. However, we cannot expect what plans does Facebook has for its third-party usage in the future.
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