Meta Is Selling Giphy

Meta, Facebook’s parent company, has been ordered to sell the GIF database Giphy.

The Competition and Markets Authority said Tuesday that Meta’s acquisition of Giphy “could limit other social networks’ access to GIFs, making them less appealing to users & less competitive.”

In May 2020, Meta bought Giphy for between $300-$400 million, according to various news outlets. Meta owns Facebook, Instagram, WhatsApp, and Oculus.

Here’s what the article states –

“As well as limiting other social-media sites’ access to Giphy GIFs, the CMA said that Meta could change the terms of access and require customers including TikTok, Twitter and Snapchat to provide more data from UK users in order to access Giphy GIFs.

The merger would negatively impact the UK’s display advertising market by removing Giphy as a challenger, the CMA said.”

Read the full story here.

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