Facebook acquired Giphy

Yesterday a big news update which happened world over was about the meme platform ‘Giphy’. Facebook has acquired the platform for a reported deal somewhere between $300-$400 million.

Earlier facebook had tried to acquire the platform back in 2015. This time the deal was finally cracked amidst the global pandemic when Facebook was able to discount the pricing of Giphy to a greater extent. Facebook would be making Giphy a part of its Instagram team which means that now you’ll have the entire data house of Giphy memes available for your Insta chats, stories and updates.

If we observe carefully we do see a pattern here of Facebook in which they’re trying to lessen or eliminate their competition as less as possible. Facebook is all ready to create a huge dank monopoly of them over the social media consumer market and the online tech world. Recently Facebook has also acquired a 9.99% share in the Indian telecom giant ‘Jio’. This step is considered to be crucial for Facebook as it’d help it to tap on its biggest market and secondly pave the way for launching it’s much anticipated Whatsapp Pay service in India.

Don’t be amused in a few years when you’ll see Facebook everywhere along its social media monopoly.

Akshay Ugale

Akshay is an educator by profession, but that doesn't limit his scope. He chooses to wear a hat with many feathers, and technology is one of them. 21st century is full of tech surprises with crazy innovations, and he wishes to be a part of all this being in the driving seat and looking at it up close. He is curious to explore the smaller nuances in technology and to tell you how can you benefit from it. Ciao!

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