#Shutterstock

Shutterstock has acquired Giphy, the animated-images platform, from Meta Platforms for USD 53 million in net paid cash. As part of the deal with Shutterstock, Meta will retain access to Giphy's library across its products. Shutterstock expects the deal to close next month, with Giphy contributing "minimal" revenue this year. With the acquisition of Giphy, Shutterstock will gain access to about 1.7 billion daily users—generating about 1.3 billion search queries daily—and expand its content library to include GIFs and stickers. pic.twitter.com/MZzfdR5xIW — GIPHY (@GIPHY) May 23, 2023 According to Shutterstock, Giphy's content library powers more than 15 billion daily media impressions, supplied by verified media partners like Disney, NBC, Netflix, NFL, MLB, and NBA, as well as individual artists. The deal will also help Shutterstock's generative AI and metadata strategy, enabling the company to use Giphy's library to gain training data for future AI-based products. Additionally, the acquisition will allow Shutterstock to expand beyond professional marketing and advertising use cases and expand into casual conversations. Shutterstock plans to use its unique capabilities in content and metadata monetization, generative AI, studio production, and creative automation to commercialize its GIF library and roll out this offering to customers. Read more in our articles including "Meta sells Giphy to Shutterstock for USD 53 million" and "Microsoft extends Windows 10 lifespan for another year... again".