Facebook has acquired GIF platform Giphy and plans to integrate it with photo and video sharing app Instagram, the companies announced Friday morning.
Axios, which first reported on the sale, pegs the deal valuation at around $400 million. Facebook has used Giphy's API for several years on Instagram, the Facebook app and WhatsApp.
The social media giant now plans to further integrate its library of animated pictures into the Instagram experience. "GIFs and stickers give people meaningful and creative ways to express themselves," Facebook vp product Vishal Shah wrote in a blog post announcing the deal. "We see the positivity in how people use Giphy in our products today, and we know that bringing the Giphy team's creativity and talent.
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