Facebook announced the acquisition of Giphy for $400 million. They plan to incorporate the entire Gifs library into Instagram.
Surprisingly, Facebook announced the purchase of Giphy, one of the world’s most popular GIF platforms, for $400 million. In a statement, people headed by Mark Zuckerberg explained that their plan is to integrate the entire GIF library into Instagram and other applications. For the time being, Giphy will retain its brand and functionality in the same way that other Facebook features work like WhatsApp.
Giphy is a leader in visual creation and expression. Today, it joins Facebook as part of the Instagram team. Giphy makes everyday conversations more entertaining, so we plan to further integrate its GIF library into Instagram and other applications to help people find the right way to express themselves.
According to Axios, the first takeover talks began before the global coronavirus pandemic and started as an agreement, not a purchase. Facebook reports that 50% of Giphy’s traffic comes from its applications. Instagram alone accounts for 25% of all platform traffic. “By bringing Instagram and Giphy together, we can make it easier for people to find the perfect GIFs and stickers in stories and directories,” they add.
Of course, Giphy has not missed the opportunity to comment on the acquisition: “Instagram has revolutionized self-expression. More than a billion people use Instagram to communicate how they feel and what they are passionate about. We are committed to helping these people become even more powerful. We’ve had a lot of fun joining Instagram over the years.
The Future of Giphy APIs
One of the most important sections of the publication concerns the future of the Giphy API (Application Programming Interface). They made it clear that the tools will continue to be available to developers and indeed did not rule out new partnerships in the near future. However, they will strengthen the API technology that will enable integration with Facebook, Facebook Messenger, WhatsApp, and Instagram.
For their part, the Giphy community will continue to be able to create and share content through the platform. “GIFs and stickers offer people creative ways to express themselves. We are positive about the way people use GIPHY in our products today, and we know that combining the creativity and talent of the GIPHY team with ours will accelerate the way people use visual communication to connect with each other,” they concluded.