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Facebook is buying GIPHY to integrate it with Instagram

Facebook is buying GIPHY for a reported $400 million and it plans to integrate the service with Instagram and other apps.

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Facebook is one of the goliaths of the internet and today it's buying another giant: GIFs. Well, not all GIFs, but one of the largest GIF-making and sharing websites on the web, GIPHY.com. The reported price of the deal is $400 million and Facebook says they plan to integrate the service with Instagram and other apps.