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Facebook to acquire Giphy for $400 million

If a picture is worth a thousand words, what’s a GIF worth? Apparently hundreds of millions of dollars.

Facebook has agreed to a deal with Giphy to acquire the GIF platform for $400 million, according to Axios. 

The report points out how Giphy was last valued at $600 million and had received around $150 million in funding since it launched in 2013.

We’re so excited to share some news – GIPHY has been acquired by @Facebook and is joining the @Instagram team! 🎉

Read more here: https://t.co/U6AYQ16cEQ pic.twitter.com/ATjEY1VK3K

— GIPHY (@GIPHY) May 15, 2020

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