Facebook announced Friday that it is selling the popular GIF generator to website maker Giffy. The financial terms of the deal have not been officially announced, but some outlets are buying at a price of around 400 400 million.
Facebook wants to integrate Gifi with Instagram, making it easier to embed GIFs and stickers with Stories and Direct Posts. Giffy is expected to maintain the brand and its API and GIF databases will be open to a wider ecosystem.
Vishal Shah’s Facebook VP said that 50% of Gifi’s traffic already came from the App family and half of it came from Instagram.
Shah said, “We’ve had the Gifi API for years, not the Instagram, Facebook, Messenger and WhatsApp applications.” Hopefully people will still be able to upload GIFs. Iai partners will have access to the same. And jiphira creative community still will be able to create great content. “