Facebook is acquiring Giphy at $400 million, will integrate it with Instagram
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Social media giant Facebook is acquiring Giphy, a popular website for making and sharing animated images, or GIFs, and will integrate it with Instagram, Facebook said in a blog post on Friday. The cost, which Facebook and Giphy declined to disclose, was placed at around $400 million. In 2015 Giphy rebuffed a Facebook offer, choosing instead to continue integrating its products with multiple social media platforms.