Facebook to acquire Giphy for $400 million

If a picture is worth a thousand words, what’s a GIF worth? Apparently hundreds of millions of dollars.

Facebook has agreed to a deal with Giphy to acquire the GIF platform for $400 million, according to . 

The report points out how Giphy was last valued at $600 million and had received around $150 million in funding since it launched in 2013.

According to Giphy’s , the company and its employees will join Instagram’s team and be integrated into that platform.

It will be interesting to see how Facebook’s acquisition affects Giphy’s many partnerships with competing social networking and messaging platforms. Last summer, the GIF company a partnership with social video platform TikTok. Giphy also integrates with other social platforms like Twitter and messaging services like Slack.