Terms of the deal were not disclosed, but the news site Axios said the California-based tech giant was paying $400 million.
“GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves.” “Instagram has revolutionized self-expression. More than one billion people use Instagram to communicate how they’re feeling and what they’re passionate about — we can’t wait to help those people become even more animated.”
Source: News Formal (newsformal.com)
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