Recently After getting 9.99% share in Reliance Jio, Facebook Another exciting addition is made by Facebook Inc. It bought GIF search engine GIPHY, Yes you hold it right, Facebook bought GIPHY.
HISTORY OF GIPHY:
Alex Chung and Jace Cooke launched GIPHY in 2013 and the company since than had raised over $150 million in funding. Popular investors in GIPHY are DFJ Growth, Lightspeed, Betaworks, GV, Lerer Hippeau and more.
GIPHY has been operating as integrated gif search platform in many mobile Apps and Social media services. It akso holds buld-in search & stickers for Facebook photo networking site Instagram.
FACEBOOK –GIPHY DEAL VALUE :
As per the report by Axios, the FACEBOOK GIPHY deal is estimated to Facebooke worth $400 Million. Whereas Facebook has not disclosed the exact terms of the deal.
FACEBOOK FUTURE PLANS WITH GIPHY :
GIPHY will Join the Instagram group within Facebook & The GIPHY app will be deeply integrated into Instagram for Stories and Direct Messages.
Facebook is planning to invest in tech development for giphy, as well as build out new relationship on both the content side, as well as the endpoint developer side.
The company had provided data of their traffic source and disclosed that almost 50% of the traffic they receive comes from Facebook or their channels such as Instagram,Messenger, Whatsapp & Facebook itself.
Future this, GIPHY will not be exclusive to facebook, and will continue to workwith other services that offer its libraries of GIFs.