Todays Tech News, Facebook Took over Giphy, for $ 400 million, Instagram users will benefit.
Latest Corporate News Update
Veteran Tech company Facebook has bought Giphy, the world's largest animated photo GIFs website. As per the latest Tech Updates, Facebook has done this to support GIFs in its photo-sharing app Instagram.
Facebook bought Giphy for $ 400 million. In addition to Instagram, its GIF library will also get support on Facebook's app. Google also bought GIF Platform Tenor and supported it on its search.
Under this deal, Giphy will become a part of the Facebook-owned photo-sharing app Instagram.
A GIF or graphic interchange format is a digital image platform that is used for short animations.
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