Following the acquisition of Giphy in an attempt to offer its users more content opportunities, Facebook stock value has climbed significantly in the following days
In our recent post, we reported Facebook’s acquisition of GIPHY- the popular GIF-making and sharing website— for the price of $400 million.
Now following this acquisition, the company has seen a noticeable increase in its stock value amounting to approximately 1.2%. According to a reliable source, the social network giant closed at $209.19 and $213.18 on Friday and Saturday respectively.
Although GIPHY was joining the company as a whole, it will operate as a major part of Instagram. This development will also mean that Users will be able to express themselves in the right way, considering that the acquisition would see both entities integrate into one.
Other of Facebook’s plans
The tech giant has also disclosed that its investment will further cut across technology and relationships with content and PI partners; also users will still be able to upload GIFs.
According to Facebook, “developers and API partners will continue to have the same access to GIPHY’s APIs; and GIPHY’s creative community will still be able to create great content.
“We’ve used GIPHY’s API for years, not just on Instagram, but on the Facebook app, Messenger and WhatsApp. GIPHY will continue to operate its library (including its global content collection).” the company stated in a press release.
For clarity purposes; until its acquisition by Facebook, GIPHY was founded and chaired by Jace Cooke and Alex Chung. GIPHY is an American online database and search engine that allows users to search for and share short looping videos with no sound, that resemble animated GIF files.