![]() ![]() ![]() The CMA in October fined the company a record $70 million for breaching an order imposed during its investigation into the acquisition, having said in August that it may need Facebook to sell Giphy.įacebook bought Giphy, a website for making and sharing animated images, or GIFs, for a reported $400 million in May 2020 to integrate the operation with its Instagram photo-sharing app. “We are reviewing the decision and considering all options, including appeal,” a Meta spokesperson said in a statement. ![]() “By requiring Facebook to sell Giphy, we are protecting millions of social media users and promoting competition and innovation in digital advertising.”įacebook said it disagreed with the decision. “The tie-up between Facebook and Giphy has already removed a potential challenger in the display advertising market,” said Stuart McIntosh, chair of the independent investigation on Facebook-Giphy for the CMA. ![]()
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