When it comes to building a high tech giant company, Facebook knows how to do that. Recent reports show that the biggest gif platform GIPHY has been acquired by Facebook. GIPHY started in 2013 by Alex Chung And Jase Cooke, and by the end of the first week, they received more than one million traffic which showed the great success they were going to achieve. After looking at the current stats of GIPHY, the majority of the truck for this website comes from Facebook, Instagram, WhatsApp combined. People everyday use millions of gifts while sending text messages which shows the importance of GIPHY.
One of the biggest reasons why GIPHY is being used so much is the unique and usable content they are creating for a long time. Content here is quite trending, and that’s why used by people to share on social media platforms. While the actual price isn’t announced but experts said GIPHY had cost $400 million upfront. However, this is not the first time when Facebook is doing transactions like this because earlier, the company bought its most prominent rival WhatsApp for more than $21 billion. Still, the successful buyout done by Facebook would be the acquisition of Instagram.
This photo-sharing social media platform was bought by Facebook for just $1 billion, which has now values in billions of dollars. The tech giant company is successfully acquiring its biggest competitors since that’s the formula which is working for Mark Zuckerberg and the entire company. Facebook said by bringing together Instagram and GIPHY; they can make it easy for users to use gifs. Gifs which are creative and unique will have the highest demand on social media platforms. Facebook expects this collaboration is going to help people visual conversation in a better and efficient way.