Facebook had tried to acquire GIPHY back in 2015, two years after it was founded. The deal is said to be closed at $400 million.
Social media giant Facebook on Friday acquired the GIF-sharing service GIPHY, which will now be a part of the Instagram team.
According to Axios, Facebook paid $400 million for the acquisition.
« By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct.
