The hottest new marketing trend for business
It’s no wonder businesses have been jumped on the GIF marketing. It’s the perfect way to add charm while advertising. It helps businesses to increase their brand awareness and drive more engagement. Looking upon the business graph, Facebook is planning to acquire Giphy, one of the most popular GIF sharing sites.
According to Axios, Facebook reportedly paid $400 million for Giphy. Facebook plans to further weave GIFs into Instagram and its other apps. The social media company will let much of Giphy’s operations go unchanged, including the ability for users to upload GIFs.
“GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves.”
Instagram and Facebook already utilize Giphy’s library – over half of Giphy’s traffic comes from the Facebook family of apps.
Facebook says 50% of all Giphy’s traffic comes from its apps, which have long made use of Giphy’s content.
Facebook plans to continue this integration in a way that further enhances the user experience.
“By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct.”
Giphy will continue to operate its library, while Facebook will work on furthering the development of Giphy’s technology and strengthening relationships with content and API partners.
This appears to be at least the second time that Facebook has gone after Giphy. It tried to buy the company back in 2015, an offer that Giphy rejected.
GIPHY Comments on the Acquisition
Giphy published its own announcement of the acquisition and reiterated how it’s committed to being openly available to developers.
“And for our API/SDK partners and developers: GIPHY’s GIFs, Stickers, Emojis, etc. aren’t going anywhere. We will continue to make GIPHY openly available to the wider ecosystem.”