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It found that the agreement would increase traffic for Meta-owned sites and limit access for other online platforms to the GIFs on Giphy. The watchdog ruled that the only way to avoid the impact on competition would be for Meta to sell Giphy to an approved buyer. The United Kingdom’s Competition and Markets Authority had opened an antitrust investigation and ordered Meta to reverse the deal in 2021. The sale came after British regulators blocked Meta from completing its acquisition of Giphy over concerns that it would stifle competition.

The release states that the sale is expected to close next month. GIPHY enables everyday users to express themselves in memorable ways with GIF and sticker content while also enabling brands to be a part of these casual conversations.”
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“Through the GIPHY acquisition, we are extending our audience touch points beyond primarily professional marketing and advertising use cases and expanding into casual conversations. “Shutterstock is in the business of helping people and brands tell their stories,” Shutterstock CEO Paul Hennessy said. The release states that Giphy draws in more than 1.3 billion search inquiries daily and is critical in text or message conversations on platforms such as Meta, TikTok, Twitter, Snapchat, Slack, Microsoft Teams and most mobile devices.
