Meta had to sell the GIPHY company it bought

Meta had to sell the GIPHY company it bought

Meta acquired in 2020. GIPHY He was faced with an important decision. That’s why the GIF-focused company has a familiar name. sold.

parent company of Instagram, WhatsApp and Facebook Metain 2020 approx. 400 million He became the owner of the company GIPHY with a $ deal. Acquiring GIPHY, one of the world’s most popular GIF hosting and sharing services, made a lot of sense at the time. with this step GIPHY in GIF library Instagram‘ and its other platforms, the social media giant started to manage a really large archive. In addition to GIF sharing, it is also active in the production. GIPHY, then caught in the center of a surprise situation. Meta was told to sell GIPHY after the UK-based investigation. This Competition and Markets Authority (CMA) Behind the legally reported situation was the issue of competition. According to the official institution, Meta is the owner of GIPHY, It hinders competition between social media networks. It was stated that this concern could only be eliminated with sales, and today the expected end has been reached in this regard. Meta, GIPHY He sold it to stock photography giant Shutterstock as part of a $53 million deal.


previously given “you will sell” Meta spokesperson for the decision Matthew Pollard had said: “We are disappointed with the CMA’s decision, but we accept today’s decision as the final word on the matter. of GIPHY close cooperation with the CMA on the divestment We will work in it.” Meta (in the Facebook era) is actually not the first time that such a topic has come up. The company was launched in the USA in December 2020. Federal Trade Commission (FTC) sued. At the center of this lawsuit anti-competitive behavior and a social media monopoly was created. FTC, acquired by Facebook Instagram And WhatsAppsees . she wanted him to take it away. There is an official “official” for the company specific to Instagram and will sell“The decision has not been made.