One of our favourite ways of communicating when words just won’t do, is a GIF. For whatever reason, GIFs can convey additional information that drive a point home. Giphy made the most of memes and the GIF trends with its platform launched in 2013. Facebook is buying Giphy for the healthy sum of $400 million, and the internet is freaking out.
In an announcement, Giphy told the world that they are joining Facebook as part of the Instagram team. According to Axios, the company was last valued at $600 million and had received about $150 million is funding since their launch. This deal has been in the making since before the coronavirus pandemic, so it is safe to assume it could have affected the sale price.
Joining the Instagram team would appear to be the best fit for Giphy. It’s a smaller, more focused part of the Facebook empire, and of course more prominent with image sharing. Facebook has already deeply integrated Giphy into its platform. It uses Giphy’s API to provide GIFs to Facebook, Facebook Messenger, Instagram, and WhatsApp.
Some are worried that this control will lead Facebook to remove anything from the Giphy platform that could be construed as negative towards the social media giant. Mark Zuckerberg has been very averse to criticism in the past, and there is a plethora of GIFs of the CEO on the platform.
Giphy’s head of content and editorial, Tyler Menzel, stated that these rumours aren’t true. “Want to clarify that this is not true as we only take down content that violates our guidelines,” he said on Twitter.
Hearing reports that we are taking down GIFs, specifically of Mark Zuckerberg. Want to clarify that this is not true as we only take down content that violates our guidelines. We are looking into the issue immediately, but can confirm we have not intentionally taken anything down