Shutterstock picks up Giphy for $53 million after UK blocks Meta’s acquisition

May 23, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

Image: Giphy

Shutterstock is buying Giphy for $53 million after Meta’s acquisition of the popular GIF platform was blocked by the UK’s competition regulator, the stock image giant has announced.

That price represents a steep discount compared to what Meta (then Facebook) reportedly agreed to pay for Giphy in 2020. At the time, Axios reported the deal was worth around $400 million, while The Guardian suggests closer to $315 million. Either way, a $53 million price tag is a bargain versus Giphy’s peak valuation of around $600 million in 2016. As part of the deal, Meta will retain access to Giphy’s library across its products.

You know that feeling when you find the perfect reaction GIF? That’s going to be us all the time now that @GIPHY is…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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Shutterstock picks up Giphy for $53 million after UK blocks Meta’s acquisition

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