Facebook has announced that it has acquired Giphy, the most popular online service for making and sharing GIFs and also plans to integrate it with other services like Instagram. The announcement was made through the company's official Facebook account, saying "GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team."
"GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves," the statement added.
The acquisition deal reportedly valued at $400million will have Facebook infusing it to the business unit of Instagram.
Vishal Shah, VP of Instagram noted that third-party firms will continue to have access to the GIPHY.
Prior to the acquisition, app like Twitter, Snapchat, Reddit, Tik Tok, Microsoft Teams and Slack. It has over 300 million active users.
However, there have been concerns whether Facebook will use the app to have access to information from Microsoft Teams, Slack among other apps using GIPHY.
Facebook said it will not collect information of individuals but will get valuable data usage patterns across the web.