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Meta is offloading Giphy — which maintains the world’s biggest database of animated GIFs — to content marketplace company Shutterstock, taking a steep loss on the forced sale. Shutterstock ...
Meta agreed to the sale, though it stated that it disagrees with the decision itself. [34] In May 2023, Shutterstock announced it would buy Giphy from Meta Platforms Inc for $53 million in cash. [35] [3] The acquisition was completed on June 23, 2023. [36]
Bye-bye: Meta has again been ordered by the U.K.'s competition watchdog to sell animated GIF platform Giphy. The decision follows a 'stay of execution' for Meta this summer, after the U.K.’s ...
Meta also purchased the defunct company ConnectU in a court settlement and acquired intellectual property formerly held by rival Friendster. The majority of the companies acquired by Meta are based in the United States, and in turn, a large percentage of these companies are based in or around the San Francisco Bay Area .
In October 2022, the CMA ruled for a second time that Meta be required to divest Giphy, stating that Meta already controls half of the advertising in the UK. Meta agreed to the sale, though it stated that it disagrees with the decision itself. [124] In May 2023, Giphy was divested to Shutterstock for $53 million. [125]
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The case centers on Meta acquisition of Facebook's two former competitors—Instagram and WhatsApp. The FTC alleges that Meta holds monopolistic power in the US social networking market and seeks to force the company to divest from Instagram and WhatsApp to break up the conglomerate. The Federal Trade Commission said that Meta's actions prevent ...
Artificial intelligence startup Scale AI said Tuesday that it has raised $1 billion in a Series F funding round that values the enterprise tech company at $13.8 billion — almost double its last ...