Facebook buys Giphy, popular tool for creating animated GIFs

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FILE – In this March 29, 2018 file photo shows the logo for Facebook at the Nasdaq MarketSite, in New York’s Times Square. Facebook on Friday, Feb. 14, 2020, decided to allow a type of paid political message that sidesteps many of the social network’s rules governing political ads. Its policy change comes days after presidential candidate Michael Bloomberg exploited a loophole to run such humorous messages promoting his campaign on the accounts of popular Instagram personalities followed by millions of young voters.(AP Photo/Richard Drew, File)

Facebook has bought Giphy, a popular tool for creating the animated images known as GIFs that pepper conversations around the internet.

The companies did not disclose financial terms. Citing unnamed people familiar with the matter, Axios said the deal is valued around $400 million.

Facebook said in a blog post Friday that it plans to integrate Giphy into Instagram but added that Giphy will still work outside of Facebook’s properties.

The company said about half of Giphy’s traffic comes from Facebook’s apps — Instagram, Facebook, Messenger and WhatsApp. Giphy is also widely used on Twitter and in messaging apps.

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