Giphy Sold by Meta at a Loss to Shutterstock for $53 Million

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Article written by Todd Spangler, via on 23 May 2023

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 is paying $53 million for Giphy.
As part of the Giphy sale agreement, Meta is entering into an API agreement with Shutterstock to ensure continued access to Giphy’s content across Meta’s platform.
Giphy partners include Meta (owner of Facebook and Instagram), other social media platforms including TikTok, Twitter and Snapchat, and mobile devices.
On the content front, Giphy’s media partners include NBC, Disney, Netflix, the NFL, MLB and the NBA.

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