JUICY learnt that Facebook said on Friday that it has acquired the animated graphics startup, GIPHY.
News site Axios reported Friday that the social networking platform added that it would integrate GIPHY in its Instagram visual social network, Premiumtimes report.
The Terms of the deal were not disclosed, but the news site said the California-based tech giant was paying $400 million.
GIPHY is a platform and search engine for “stickers” and other products using the graphics interchange format or GIFs.
“GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team,” a statement by Facebook said.
“GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves.”
Facebook said it has partnered with GIPHY for years and that the company would continue to operate its library.
“We’re looking forward to investing further in its technology and relationships with content,” said Instagram vice president of product, Vishal Shah.
“GIFs and stickers give people meaningful and creative ways to express themselves. We see the positivity in how people use GIPHY in our products today, and we know that bringing the GIPHY team’s creativity and talent together with ours will only accelerate how people use visual communication to connect with each other.”
GIPHY was created in 2013 to “make communication more fun,” a blog from the GIPHY team said Friday.
“That’s why we’re thrilled to announce that GIPHY has been acquired by Facebook and is joining the team at Instagram.
“Instagram has revolutionized self-expression. More than one billion people use Instagram to communicate how they’re feeling and what they’re passionate about — we can’t wait to help those people become even more animated.”