Why Meta has been ordered to sell GIF platform GIPHY (Updated)
Why Meta has been ordered to sell GIF platform GIPHY (Updated) The move is a milestone moment The CMA’s investigation Facebookagreed to buy Giphy for $315 millionin May 2020. Announcing the deal in a blogpost, Vishal Shah, then-Facebook VP of Product, said the GIF-hosting platform would join the Instagram team: The announcement came amid growing concerns about Facebook’s power. While the purchase price was small compared to the $19 billion that Facebook paid for Instagram, the GIF site has a vast reach....