February 23, 2024


Stock-photo website Shutterstock on Tuesday said it will acquire Giphy and its online repository of animated images for $53 million, after UK antitrust regulators forced Meta to spin off the company last year.

The value of the deal is sharply lower than the $315 million Meta was widely reported to have paid to acquire Giphy in 2020.

UK officials had alleged that Meta’s acquisition would reduce competition in advertising and social media, and an appeals court upheld that decision last year, prompting Meta to say it would sell Giphy to comply with the UK’s breakup order.

The deal will add GIFs and reaction stickers to Shutterstock’s digital content library while expanding Shutterstock’s access to Giphy’s 1.7 billion users, the company said in Tuesday’s announcement.

The transaction is expected to close in June.


Leave a Reply

Your email address will not be published. Required fields are marked *

Explore the world from above : creating drone videos that will take your breath away. Copyright © 2020, belonga group trading pty ltd. Looking behind the scenes of the continuing clashes dan pomerantz & moshe chertoff.