Facebook Buys Giphy for $400M

Facebook has agreed to buy Giphy, the popular platform of sharable animated images, for a reported $400 million, with plans to integrate the massive GIF library into Instagram and other Facebook apps.

GIPHY, is an American online database and search engine that allows users to search for and share short looping videos with no sound, that resemble animated GIF files

Under its new ownership, Giphy will live on as part of the Instagram team, with the goal of making it even easier to send GIFs and stickers in Instagram stories and direct messages. For now, , Facebook says that things will remain the same for Giphy users.

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