Facebook buys GIF website Giphy, to integrate it with Instagram

Social media giant Facebook has acquired Giphy, the largest website for GIFs at a reported price of $400 million. Giphy will be a part of the Instagram team. With this, we can expect Facebook to add Giphy support to more apps from Facebook. Giphy is already there in Messenger, WhatsApp and the native Facebook app.
“50% of GIPHY’s traffic comes from the Facebook family of apps, half of that from Instagram alone. By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct,” said Vishal Shah, VP of Product at Facebook in an official blog post.
“Giphy will continue to operate its library (including its global content collection), and we’re looking forward to investing further in its technology and relationships with content and API partners. People will still be able to upload GIFs; developers and API partners will continue to have the same access to GIPHY’s APIs,” he said.
Meanwhile,