We know that the world is going through an economic as well as health crisis right now due to the Coronavirus and people are facing a lot of issues due to this reason. But we have also seen that business is down but going on in the online world where social media content consumption is at an all-time high.
Having said that, we do acknowledge the fact that advertising has also been hit right now and business is down in the online marketing world. But if we talk about the acquisition, they have just announced the Facebook acquires GIPHY, which is a platform for finding and creating all kinds of GIFs.
Right now, Facebook has not disclosed what amount was involved in buying GIPHY and neither has GIPHY revealed the same. But we do know from an Axios report that Facebook acquires GIPHY for $400 million and many people in the industry have wondered if Facebook had to pay too much for the platform where most of the content is user generated. But we are not Facebook and they must have seen something in the platform worth investing in.
Does Facebook acquire GIPHY for Instagram?
As far as Facebook’s plans with GIPHY are concerned, the company said in a statement that they will integrate the platform’s content inside their viral platform Instagram in order to let people on Instagram easily share the content with one another. This also means that once the integration goes live, we are going to see a lot of GIF content inside Instagram which is currently very limited if at all.
It is likely that we will be able to post GIFs inside Instagram comments as well as posts and even in direct messages. On the other hand, we know that GIPHY provides APIs for others to use and they have said that that will continue to be provided as usual.