Shutterstock picks up Giphy for $53 million after UK blocks Meta’s acquisition
Shutterstock is buying Giphy for $53 million after Meta’s acquisition of the popular GIF platform was blocked by the UK’s competition regulator, the stock image giant has announced.
That price represents a steep discount compared to what Meta (then Facebook) reportedly agreed to pay for Giphy in 2020. At the time, Axios reported the deal was worth around $400 million, while The Guardian suggests closer to $315 million. Either way, a $53 million price tag is a bargain versus Giphy’s peak valuation of around $600 million in 2016. As part of the deal, Meta will retain access to Giphy’s library across its products.
You know that feeling when you find the perfect reaction GIF? That’s going to be us all the time now that @GIPHY is...