Shutterstock is buying Giphy for $53 million, after its acquisition was blocked by the British Competition Regulator.
That price represents a steep discount compared to what Meta originally agreed to pay for the company in 2020.As part of the deal, Meta will retain access to Gipyl’s library across its products.
Shutterstock has bought Giply for a significant discount compared with what Meta previously paid for it.
Original article on Shutterstock.com reports that the deal was worth around $400 million; later reports put the price at as low as $315 million.
Either way, a $53-$53 million price tag is a bargain versus Gipply’s peak valuation of around $600 million in 2016.Giphy had been acquired by Facebook in a similar deal back in 2004.
👋 Feeling the vibes?
Keep the good energy going by checking out my Amazon affiliate link for some cool finds! 🛍️
If not, consider contributing to my caffeine supply at Buy Me a Coffee ☕️.
Your clicks = cosmic support for more awesome content! 🚀🌈
Leave a Reply