Facebook acquires GIF-making website GIPHY

Facebook has acquired the popular GIF website GIPHY and is planning to integrate its GIF library to its photo-sharing app, Instagram.
Facebook acquired the GIF-making and sharing website for reportedly $400 million
GIPHY is one of the most popular GIF-making and sharing sites on the internet. The website allows users to create, share and remix GIFs.
Facebook had already been using GIPHY’s API for its family of apps including Facebook Messenger, WhatsApp and Instagram. The social media giant in February had also introduced a new feature on Instagram that now lets users reply to their friend’s stories using Giphy’s GIFs.