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Mark is doing it again. Buying up all our favorite Apps to root Giphy into his own global business of owning social media data and software.
Giphy is one of the largest GIF apps available on the internet. Its popularity offers tools for creating and sharing GIFs on social media and through text messages. The app has been said to be in an agreement with Facebook valued at $400 million. The purchase will allow the Giphy app to be integrated into if not all of Facebook’s owned apps. While other services depend on the gif type images the Facebook announcement says that nothing will change for users.
“People will still be able to upload GIFs; developers and API partners will continue to have the same access to Giphy’s APIs; Giphy’s creative community will still be able to create great content,” Vishal Shah, Instagram’s VP of product, said in a blog post announcing the news.
The recent purchase of Giphy creates more dependency on Facebook-owned apps. While many users on Twitter, Pinterest, Slack, and Reddit have been vocal about moving away from the Facebook app.
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