Britain may order Facebook to sell GIF website Giphy, after the country’s competition regulator concluded that the deal between the two businesses would hurt the display advertising market.
The social media giant purchased Giphy in May last year, in order to integrate it with its photo-sharing app, Instagram. Axios estimated the deal to be worth US$400 million.
Stuart McIntosh, chair of the independent investigation for the CMA said, “Giphy’s takeover could see Facebook withdrawing GIFs from competing platforms or requiring more user data in order to access them. It also removes a potential challenger to Facebook.”
To Read More: Reuters
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