Facebook acquires popular GIF database GIPHY for reported $400 million (FB)

Facebook has acquired GIPHY, the searchable database for finding and creating GIFs.
Facebook announced in a blog post Friday that GIPHY would become part of the Instagram team.
"By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct," Facebook executive Vishal Shah wrote in the post. "A lot of people in our community already know and love GIPHY. In fact, 50% of GIPHY's traffic comes from the Facebook family of apps, half of that from Instagram alone."
Minutes before Facebook's blog post went live, Axios reported Facebook was acquiring GIPHY for $400 million.
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