Facebook buys Giphy for $400 million, will get support in Instagram

Facebook buys Giphy for $400 million, will get support in Instagram

Facebook buys GiphyThe world's largest social media company Facebook has bought the world's largest animated photo (GIFs) website, Giphy. Giphy has a huge reputation in the world of creating GIFs. Facebook has done this deal to support GIFs in its photo-sharing app Instagram. Facebook has given the details of the deal in one of its blog posts.

Facebook has not given any information about the price of this deal, but according to the news website Axios, the deal has been done for $ 400 million i.e. around Rs 3,035 crore. In 2015, the same Giphy had talked about a partnership with Facebook and said that it should support Giphy on its platform, but Facebook rejected the offer during that time. Following the deal, Giphy will become part of the Facebook-owned photo-sharing app Instagram. Its GIF library will be integrated into Facebook's other apps besides Instagram. After this, people will get the opportunity to upload GIFs on all platforms of Facebook.

Currently, to share GIFs on the Facebook platform, it has to be downloaded separately.
Facebook buys Giphy for $400 million, will get support in Instagram Facebook buys Giphy for $400 million, will get support in Instagram Reviewed by Redbuddy on May 16, 2020 Rating: 5

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