Facebook, a company started from the dorm room of a Harvard undergraduate, has now become a multi-billionaire company. It not only thrives as a stand-alone social media company but it has bought several others like Whatsapp and Instagram. Whatsapp was bought for $19 billion in 2014, now worth over $50 billion. Instagram was bought for $1 billion in 2012, now staggeringly worth over $100 billion generates more ad revenue than Youtube. Whatsapp is Facebook’s largest acquisition to date.
Facebook Acquire GIPHY
Facebook has now bought Giphy for $400 million, a search engine to search Gifs(short videos without sound). This was Facebook’s second try as Giphy had rejected their offer before. Some concerns have started to surf that what will Facebook do with Giphy’s 700 million user’s data.
How GIPHY works?
GIPHY was founded in 2013 by Alex Chung and Jess Cook, who decided to create a database of GIFs that could be used in place of words to express emotions. He built a search engine, compiled a database of about 15,000 GIFs, and created a GIF website.
But currently, GIPHY is one of the largest GIF Library on the Internet, offering tools to create, share, and recreate GIFs. Facebook has already relied on GIPHY’s API for years to get GIFs in its apps: Instagram, the main Facebook app, Facebook Messenger and WhatsApp are already working with the service.
Users search for GIFs using a keyword and choose one of the resulting images. They can copy and paste the image into a text message or share it on social media. Geoffrey recently launched a mobile application for easy access to smartphones and tablets.
GIPHY has also made progress in creating business content. For example, individuals and businesses can now create their own GIFs on GIPHY’s website, which provides artists with the tools to create stunning GIFs with animated images or video footage. Art creations can be viewed on the site’s art gallery.
But Why Would Someone Buy GIFs Library for $400 Million?
Of course, internet users like to show their reactions or feelings by posting a looping animation of a furious professional Actors or a tearful reality television star. Along with emojis, GIFs have been added to the web’s most specialized demo language.
Facebook is now planning to Integrate GIPHY with Instagram with the goal of making it easy to send GIFs and stickers to Instagram stories and live messages. According to Facebook, 50% of Giffy’s total traffic comes from its apps, half of which comes from Instagram alone. For now though, Facebook says things will remain the same for GIPHY users.
via GIPHY Instagram Users Right Now
“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,” Vishal Shah, Instagram’s VP of product, said in a blog post announcing the news regarding GIPHY acquisition.
“People will still be able to upload GIFs; developers and API partners will continue to have the same access to GIPHY’s APIs, and GIPHY’s creative community will still be able to create great content,” he added.
Now that Facebook has bought and taken direct control of GIPHY, one can only expect it will harvest even more data about users. Choosing your GIFs doesn’t seem important, but for corporations, it can say a lot about you.
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