Giphy will join Instagram’s team and its library will be integrated into Facebook’s platforms
Facebook has purchased the GIF-maker Giphy and plans to make it part of the Instagram team.
A report from Axios values the deal at $400m (£330m), but Facebook would not confirm the final price.
In a blog post, Instagram’s VP of Products Vishal Shah said third party firms would still have access to Giphy’s library of GIFs and stickers.
But many of those sites including Twitter and Pintrest are direct competitors to Facebook.
