As reported by Axios, Facebook has confirmed that they will be buying Giphy. Also, the deal is reportedly worth $400 million. However, Facebook is being quite about what the deal contains.
What is Giphy?
Giphy is a popular platform which allows users to share content. They also allow users to use and share gifs. These GIFs are also available on Facebook and many others websites. It has been around for quite a while. It used to be a GIFs exclusive search engine but slowly, it turned into a big platform that allowed users to engage more through social media. Facebook is the biggest platform which provides Giphy with content.
Facebook buying Giphy will most probably allow it to work same capacity that it does now. Besides this, you will be able to access it through some other apps which are under Facebook.
You will still be able to share, create, and use your own GIFs but there could be some new features coming in the future.
After Facebook acquires Giphy, the work and scale will remain the same as before but the branding will certainly change. We will see that Giphy is now under Facebook.
Now that Giphy will be acquired by Facebook, they will get more investment. Facebook has already stated that they will invest more in the development and also make the platform more friendly. These plans could allow the users and the developers to engage and interact a bit more. Facebook is continuing to buy companies for some year now and they might not be stopping for some time.