Facebook will acquire Giphy, the online library and maker of GIFs, and plans to further weave its animated videos into Instagram and its other apps.
Facebook reportedly paid $400 million for Giphy, according to Axios. The social media company will let much of Giphy’s operations go unchanged, including the ability for users to upload GIFs.
“GIFs and stickers give people meaningful and creative ways to express themselves,” Vishal Shah, Instagram’s vice president of product, writes in a blog post announcing the deal. “We see the positivity in how people use GIPHY in our products today, and we know that bringing the GIPHY team’s creativity and talent together with ours will only accelerate how people use visual communication to connect with each other.”
Facebook says 50% of all Giphy’s traffic comes from its apps, which have long made use of Giphy’s content.
This is 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.