Facebook is buying popular GIF platform Giphy

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aloha11x
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Facebook is buying popular GIF platform Giphy
aloha11x
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One of Facebook's biggest

One of Facebook's biggest acquisitions in recent memory is for a service commonly used to find GIFs of adorable puppies, Real Housewives and literal dumpster fires with broad metaphorical potential.

Facebook (FB) said Friday that it had acquired Giphy, a popular search engine for short, looping videos and animations called GIFs. The service will become part of Facebook's Instagram team, making it easier for people to find relevant GIFs for their Stories and direct messages.
The deal is reportedly worth $400 million, according to Axios. A Facebook spokesperson told CNN Business the company isn't disclosing the terms of the deal.
While the rumored price tag may sound steep for a platform used to find and send GIFs of Homer Simpson disappearing into a bush, it's actually less than Giphy was valued at in prior funding rounds.
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