tldrdailynews.com logo

Shutterstock acquires Giphy from Meta for $53 million after UK antitrust order.

1 min read
Source: The Verge
Shutterstock acquires Giphy from Meta for $53 million after UK antitrust order.
Photo: The Verge
TL;DR

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.

Topics:business#acquisition#business#competition-regulator#giphy#meta#shutterstock
Share this article
  1. Shutterstock picks up Giphy for $53 million after UK blocks Meta's acquisition  The Verge
  2. Facebook owner Meta sells Giphy at a loss of more than $260m  The Guardian
  3. Meta sells Giphy to Shutterstock at a loss in a $53 million deal  CNBC
  4. Facebook Parent Meta Agrees to Sell Giphy for $53 Million on Regulator's Order  The Wall Street Journal
  5. Following UK antitrust order, Meta sells Giphy to Shutterstock for $53M after buying it for $400M  TechCrunch

Want the full story? Read the original reporting

Read on The Verge