Facebook to acquire Giphy for $400 million

If a picture is worth a thousand words, what’s a GIF worth? Apparently hundreds of millions of dollars.

Facebook has agreed to a deal with Giphy to acquire the GIF platform for $400 million, according to Axios. 

The report points out how Giphy was last valued at $600 million and had received around $150 million in funding since it launched in 2013. It also mentions how Facebook was in talks with the company for a partnership prior to the coronavirus pandemic. 

At some point over the past few months, those talks turned to an acquisition.