facebook bought giphy the world’s most popular animated photo-sharing company, Giphy.
According to the report, Facebook bought the shares of Giphy Company for 400 million and acquired its ownership, after which the three largest companies in the world, Instagram, WhatsApp and Goofy, have come under the ownership of Facebook.
Facebook bought giphy
Facebook began trying to buy shares of Giphy in 2015, and after a long period of five years, the company has achieved its goal.
Facebook bought giphy and made it part of the photo-sharing website Instagram, meaning users will now be able to share animated photos on the photo-sharing website Instagram in a few days.
Vishal Shah, vice president of Facebook’s product division, confirmed in a blog post that “By combining Instagram and Giphy, we’re making it easier for people to find the best Gifs and stickers in Stories and Direct.”
Giphy has been supporting APIs on Messenger, Instagram and WhatsApp for years. According to Facebook, Instagram alone accounts for 25 per cent of Giphy daily traffic, while other services receive another 25 per cent.
Confirming this, the Goofy team said that they will maintain the availability of the service for the customers in which the users will be able to upload the Goofies as usual.