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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 ...
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 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]
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 .
Shutterstock, Inc. is an American provider of stock photography, stock footage, stock music, and editing tools; [4] it is headquartered in New York. [5] Founded in 2002 by programmer and photographer Jon Oringer, [6] Shutterstock maintains a library of around 200 million royalty-free stock photos, [7] vector graphics, and illustrations, [8] with around 10 million video clips and music tracks ...
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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]
Meta is experimenting with serving more AI-generated content, including people's digital likeliness, to some users' Facebook and Instagram feeds.