Facebook acquires Giphy for a hefty price


Facebook has acquired Giphy, a leading website that offers video clips and animated images online for a huge amount. Facebook bought Giphy for $ 40 million. Giphy will be working with the Instagram group, which will have more than 100 Giphy employees under Facebook. Reports suggest that the deal was negotiated with Facebook in the anticipation of a loss.

Giphy Library Clips are currently available on all of Facebook’s messaging services. So 50 percent of the traffic to Giphy was received from Facebook services. Half of it is from Instagram.