Shutterstock acquires Giphy from Meta for $53 million after UK antitrust order.
TL;DR Summary
Shutterstock is acquiring Giphy for $53 million after Meta's acquisition was blocked by the UK's competition regulator. The deal will augment Shutterstock's content library, expanding it to include GIFs and Stickers, and help its generative AI and metadata strategy. Meta will retain access to Giphy's library across its products. Giphy's platform currently boasts 1.7 billion daily users, 15 billion daily media impressions, and 1.3 billion daily search queries.
- Shutterstock picks up Giphy for $53 million after UK blocks Meta's acquisition The Verge
- Facebook owner Meta sells Giphy at a loss of more than $260m The Guardian
- Meta sells Giphy to Shutterstock at a loss in a $53 million deal CNBC
- Facebook Parent Meta Agrees to Sell Giphy for $53 Million on Regulator's Order The Wall Street Journal
- Following UK antitrust order, Meta sells Giphy to Shutterstock for $53M after buying it for $400M TechCrunch
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