News Facebook is buying Giphy for $400 million

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Facebook is buying Giphy for $400 million

News Facebook is buying Giphy for $400 million

Facebook on Tuesday said the coronavirus pandemic has users flocking to its services while it undermines ad revenue on which the world’s biggest social network depends.

Facebook is buying the popular GIF-making and sharing website Giphy for $400 million, with plans to integrate the massive GIF library into Instagram and other Facebook apps. News of the deal was first reported by Axios, which revealed the $400 million value of the deal.

Giphy is already one of the largest GIF sites on the internet, offering tools for creating, sharing, and remixing GIFs.

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