Meta has no choice but to sell Giphy at $262M loss to Shutterstock

  • Meta has no choice but to sell Giphy at $262M loss to Shutterstock

    Posted by Gatherer  on May 23, 2023 at 3:12 PM

    Enlarge (credit: Getty)

    Talk about a fire sale. With limited interest in GIF platforms and UK regulators forcing a sale, Meta has decided to sell Giphy to Shutterstock for a mere $53 million.¬†After purchasing it for $315 million in 2020 and subsequently being ordered to sell it by the UK’s Competition and Markets Authority (CMA), Meta has been challenged to find a suitable Giphy buyer at a time when GIFs are perceived to be less trendy than three years ago. The GIF library has found

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    Gatherer  replied 4 months, 1 week ago 1 Member · 0 Replies
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