Tech

Investigation Initiated About Facebook’s Giphy Purchase

[ad_1]

Social media giant Facebook added Giphy, one of the biggest GIF sharing platforms of the internet, in May, for 400 million dollars. The UK Competition and Markets Authority has now launched an investigation into this acquisition.

Social media giant that hosts many popular apps such as WhatsApp and Instagram under its roof Facebook, GIF production and sharing platform last May the Giphy’y he bought it for 400 million dollars. This acquisition, which has been talked about for a while, has attracted the attention of England’s competition institution.

Giphy’s huge library containing video animations is very popular in Facebook applications, but the application; TikTok, Snapchat and twitter It also serves other popular social media platforms that rival Facebook. Therefore UK Competition and Markets Authority (CMA) will investigate whether it would be a problem for Facebook to buy Giphy.

The competition authority stopped the mergers of companies until the investigation ended:

Facebook Giphy

The competition agency, which sent an enforcement order to Facebook within the week, merger He stopped. Facebook announced that it bought Giphy in May this year, application traffic half said it came from Facebook apps, including WhatsApp and Instagram.

It was announced that this $ 400 million deal wasn’t going to affect deals with other partners. Despite this, CMA iswith a significantly reduced competition ‘ He said he was investigating whether it would be concluded. No explanation was made as to when the investigation will be decided. However, at least the research July 3rd It has been decided that it will last until and that Giphy should keep its staff and technology separate from Facebook, unless it receives prior written permission from CMA.

RELATED NEWS

Facebook Announces Results of Deepfake Video Detection Software Competition

A Facebook spokesperson who made a statement on the subject said that Giphy improved what Instagram offers by giving people more features and tools. It also uses Giphy as Facebook previously stated of other companies It was also repeated that he will not lose access to the platform.

[ad_2]