Facebook buys Giphy, the GIF-maker

Facebook buys Giphy, the GIF-maker:

Facebook has purchased the American online database and search engine that allows to make GIF files.

A report from Axios said that the deal was settled for $400 million. But as usual Facebook is not going to disclose the price of the deal.

Before knowing bit about it, let's explore what GIFs are.

GIF stands for Graphical Interchange Format, is an animated image you often found in Whatsapp, Instagram, Facebook and other social media platforms. It is an animated image or short soundless video of very short duration like for few seconds only. It plays on a continuous loop without viewers intervention in clicking or pressing the play button. These GIFs convey emotions, jokes, present happenings etc. 






And Giphy is one of the largest sites for making such creative animated images. Facebook said that 50% of Giphy's traffic came from their platforms and half of it used to come from Instagram. So, it decided to make Giphy's creation a part of Instagram.

Covid-19 lockdown in most of the countries has impacted this decision to buy Giphy since Facebook observed their increased user attention in GIFs.

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