No matter how you pronounce GIPHY, you can now call it part of Facebook, as the social media giant now owns the GIF service.
Everyone loves animated GIFs, and it appears that Facebook is a bigger fan than most as the company has just announced that it is purchasing the massive GIF sharing service GIPHY. According to a report from Axios, Facebook is buying the GIF sharing service for $400 million.
Facebook posted about its plans after buying GIPHY on its blog. While Facebook already used GIPHY’s API for WhatsApp, Messenger, Instagram, and Facebook proper, the company is planning to integrate the service more heavily into Instagram and its other apps now that the company owns the GIF service.
