By Dade Hayes Finance Editor In a deal reportedly worth $400 million, Facebook is betting on the potency of GIFs by acquiring Giphy.
Plans call for integrating the firm’s technology into Instagram, which Facebook acquired in 2012. In a blog post announcing the deal, Facebook product VP Vishal Shah said 50% of Giphy’s traffic comes from Facebook-controlled apps, with half of that traffic on Instagram. “By bringing Instagram and Giphy together, we can make it easier for people to find the perfect GIFs and stickers,” he wrote. “Both our services are big supporters of the creator and artist community, and that will continue.
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