In another move to dominate social media, Facebook just bought Giphy for $400m. It will be integrated with Instagram.
Giphy has over 300 million daily users and 12 billion GIF searches per month
Giphy generates no earnings & is free to use. Why buy it?
Simple – access to data
Facebook will still allow its partners and competitors to use Giphy while collecting their usage data. Access to competitors without technically being anti-competitive.
FB will analyze GIF usage patterns (& could possibly front-run trends).
Instagram already has a food delivery app.