Facebook has acquired GIPHY, a social platform centered around GIFs. Axios is reporting from sources that the company paid $400 million in the deal.
In announcing the deal, the social media giant said that Instagram alone makes for 25% of GIPHY's typical traffic with Facebook, WhatsApp, and its other own apps making up another quarter.
It expects to integrate GIPHY deeply into Instagram to make GIFs available for use in Stories and direct messaging. GIPHY's APIs also remain open to use. If you use GIPHY, you may expect to see refined ads and more branded content highlighted on the platform.
Sources say GIPHY will retain its own branding and team for the time being.