Giphy is Set to be Acquired for $400 million

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Facebook intends to integrate Giphy to its family of apps including Facebook, Instagram, and others. 

Facebook announced that it’s buying Giphy, the GIf-making, and sharing website for $400 million. Vishal Shah, VP of Facebook Product wrote that Giphy will now be joining Facebook and Instagram’s team to create a more entertaining conversation among Facebook’s family of apps. Giphy is now one of the biggest sites on the web which enables users to create, share, and mix GIFs hassle-free. Giphy’s GIFs aren’t new to Facebook apps as the company has been using its API for years now. 

Image Credit: The Verge

Facebook said that 50% of Giphy’s traffic is from Facebook apps, half of which comes from Instagram. Giphy’s blog post, stated over 1 billion people are on Instagram. The company is keen on giving users another way to make their conversation livelier and more animated with GIFs. 

Easier conversations with Giphy GIFs

The talks for the partnership started before the pandemic began but was just formalized in the last few days. Shah added, Facebook is planning to invest in additional tech to develop Giphy. The goal of these updates to allow more relationships for content creators and developers. The acquisition will make it easier for users to look for the perfect GIFs for their conversations, stories, and DMs. Giphy was founded in 2013 with the single aim of making communication more entertaining and fun. 

Giphy x Facebook moving forward 

As part of the Instagram team, users will now be able to access Giphy’s massive library. Vishal Shah also said that not many changes would happen in the coming weeks. Users can continue uploading GIFs and the developers / API partners will still have access to Giphy’s API. 

What does this mean for you?

Brands go where people go, and brands do what people do. This statement sums up many advertising campaigns today. The advertising trends follow the style and the changes in trends of society. Brands should continue to utilize GIFs if they want to appeal to a younger audiences. Gifs are a welcoming way to strike up a casual conversation with your customers and eventually build strong business relationships with them. 

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