Scoop: Facebook to buy Giphy for $400 million

Found on Axios on Saturday, 16 May 2020
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Giphy is expected to retain its own branding, with its primary integration to come via Facebook's Instagram platform.

Giphy is a massive video library, with hundreds of millions of daily users that share billions of GIFs, that generates revenue via branded content. Adding Facebook's ad sales and marketing firepower could be what transforms it from a popular service into a highly profitable one.

$400 million for a website where people share animated GIFs. In 2020. What's next? Buying a company that offers 320x240 black & white CRT-TVs without audio?