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Facebook buys Giphy platform of shareable images

2020-05-15 20:04:00| Telecompaper Headlines

(Telecompaper) Facebook has agreed to buy the US-based Giphy platform of shareable images. The company didn't say what was the acquisition's price, but Axios reports that Facebook paid USD 400 million. The platform is expected to keep its own branding and join Facebook's Instagram team. Facebook said it plans to further integrate Giphy's GIF library into Instagram and its other apps. It added that 50 percent of Giphy's traffic comes from the Facebook family of apps, half of that from Instagram alone.

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