Fortune 500 company-FACEBOOK, in a blog post on Friday, stated that GIPHY- a leader in visual expression and creation is going to be part of one of the Facebook family of apps- INSTAGRAM.
Axios reported on Friday that the tech giant has agreed to acquire GIPHY for a deal value of $400million.
According to Axios, the two companies started transaction talks before the Coronavirus pandemic, saying that the talk was more about partnership than acquisition.
GIPHY according to Facebook “makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves.
As revealed by Facebook’s data, 50% of GIPHY’s traffic comes from the Facebook family of apps, Instagram providing half of the 50% traffic.
The Director of Product on Instagram’s Business Platform, Vishal Shah in the blog post said,” A lot of people in our community already know and love GIPHY. In fact, 50% of GIPHY’s traffic comes from the Facebook family of apps, half of that from Instagram alone. By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct.
Both our services are big supporters of the creator and artist community, and that will continue. Together, we can make it easier for anyone to create and share their work with the world.
“We’ve used GIPHY’s API for years, not just in Instagram, but in the Facebook app, Messenger and WhatsApp. GIPHY will continue to operate its library (including its global content collection), and we’re looking forward to investing further in its technology and relationships with content and API partners.
People will still be able to upload GIFs; developers and API partners will continue to have the same access to GIPHY’s APIs, and GIPHY’s creative community will still be able to create great content.
The goodness in being able to express ones’self cannot be overemphasized. Graphics Interchange Format (GIFs) and stickers provide worthwhile and artistic ways of expression. This collaboration will certainly bolster connectivity and communication with visuals.
