Facebook is acquiring the GIF-sharing website, Giphy, reportedly at $400 million. The company also announced its plans to merge the GIF library into Instagram and other Facebook-owned apps – to enhance the user experience.
Facebook had been using Giphy’s API for years to source GIFs into its main app, Instagram, Facebook Messenger, and WhatsApp. It will now work on boosting its hands-on content and API.
As mentioned by Facebook, “GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team… By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct.”