May 18 - 08:05
Facebook to buy Giphy for $400 million
Facebook is to buy the animated image platform Giphy in a deal worth around $400 million, Facebook has confirmed. Axios first reported the news, saying discussions between the two companies began before the COVID-19 pandemic and moved on from a partnership to a buy-out. Facebook said that Giphy is "joining the Facebook company today as part of the Instagram team", where it is already widely used.
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