06:19 Facebook buys GIF website for US$400 million



On the 27th local time, the British Competition and Markets Authority (CMA) launched a preliminary investigation into Facebook's

On the 27th local time, the British Competition and Markets Authority (CMA) launched a preliminary investigation into Facebook’s “purchase of GIF website Giphy for US$400 million.” (Reuters)

2021/01/29 06:19

First submission 01-28 22:55
Update time 01-29 06:19

[Real-time news/comprehensive report]On the 27th local time, the British Competition and Markets Authority (CMA) launched a preliminary investigation into Facebook’s “purchase of GIF website Giphy for US$400 million” because the transaction may damage videos and animated pictures Market competition.

According to foreign media reports, Facebook is the world’s largest social media company. In May last year, it acquired Giphy, a website that produces and shares animated images (ie, GIF), for US$400 million, and integrated it with the social platform Instagram. After CMA issued a preliminary order on the 27th, Facebook suspended Giphy’s integration into Instagram.

According to reports, the CMA has set the date of its initial ruling as March 25. CMA Chief Executive Officer Andrea Coscelli said that any transactions by large companies to small companies should be reviewed and proprietary regulations should be used to control them.

A Facebook spokesperson said, “We will fully cooperate with CMA’s investigation. This merger is conducive to competition and is in the interest of everyone who uses GIPHY.”

Countries around the world are studying how to strengthen the control of technology companies. Facebook has stated that Giphy’s integration with other social platforms such as Twitter, Snapchat and ByteDance’s TikTok will not change.

In May last year, Facebook acquired Giphy, a website that produces and shares animated pictures (ie GIFs), and integrated it with Instagram, a social platform that uploads a large number of photos.  (The picture is taken from Giphy website)

In May last year, Facebook acquired Giphy, a website that produces and shares animated pictures (ie GIFs), and integrated it with Instagram, a social platform that uploads a large number of photos. (The picture is taken from Giphy website)



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