The acquisition is said to have been completed for around 370 million euros.
Facebook announced the acquisition of Giphy, a service that contains one of the largest GIF databases. The plan of Mark Zuckerberg ‘s technology is to integrate Giphy on Instagram, where he will be able to offer a library of GIFs larger than the current one.
“By joining Instagram and Giphy, we will make it easier for people to find perfect GIFs and stickers for Stories and Direct,” pointed out the product vice president of Instagram. “We will continue to allow Giphy to be available for a comprehensive ecosystem.”
The Facebook did not provide details about the deal but, according to the site, Axios acquisition was completed by 400 million dollars, about 370 million euros.