Facebook officially announced that it is acquiring Giphy a popular GIF sharing company. According to a report, this deal cost Facebook around $400 million. Facebook plans to integrate Giphy to Instagram and other Facebook apps.
Facebook statement – “We’ve used GIPHY’s API for years, not just in Instagram, but in the Facebook app, Messenger and WhatsApp. GIPHY will continue to operate its library (including its global content collection), and we’re looking forward to investing further in its technology and relationships with content and API partners. 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.”
According to Facebook, about 50% of the Giphy traffic comes from the Facebook family of apps (Facebook, WhatsApp, Messenger, Instagram). Further Facebook says, half of this 50% traffic comes from Instagram alone.
Giphy is a popular GIF sharing service having large database of GIF’s. Apart from the sharing, users can also create their own GIF using Giphy. Giphy integration with instagram will make it more easier to users to share and reply with GIFs.