Shutterstock announced that they will be buying GIPHY from Meta. GIPHY has the greatest collection of GIFs and stickers in the world.
Shutterstock Bought GIPHY From Meta
GIPHY‘s enormous collection of GIFs and stickers generates over 15 billion daily media impressions and is searched for more than 1.3 billion times every day. This staggering number illustrates the massive impact GIPHY has on the media landscape. With such an incredible volume of content, GIPHY has become an indispensable resource for communicators, creatives, and content creators worldwide. More than 14,000 API/SDK integrations and GIPHY’s own website and mobile app are used to disseminate these impressions.
Shutterstock CEO, Paul Hennessy said in a statement “This is an exciting next step in Shutterstock’s journey as an end-to-end creative platform. Shutterstock is in the business of helping people and brands tell their stories. Through the GIPHY acquisition, we are extending our audience touch points beyond primarily professional marketing and advertising use cases and expanding into casual conversations. GIPHY enables everyday users to express themselves in memorable ways with GIF and sticker content while also enabling brands to be a part of these casual conversations. We plan to leverage Shutterstock’s unique capabilities in content and metadata monetization, generative AI, studio production and creative automation to enable the commercialization of our GIF library as we roll this offering out to customers.”.
GIPHY is a big supplier of content for social media networks, including TikTok, Twitter, and Snapchat. Also, it provides content for team collaboration platforms like Slack and Microsoft Teams. They also provide integrations with most mobile devices for text and message-based conversations.