Shulou(Shulou.com)11/24 Report--

CTOnews.com, May 24, Shutterstock announced that it will buy Giphy, a dynamic map GIF search platform, from Meta for $53 million (currently about 374 million yuan). Meta bought Giphy for $400m (currently about 2.824 billion yuan) three years ago.

The reason why Meta is "cheap" is mainly because the British competition regulator, the Competition and Market Authority (CMA), is worried about competition. Meta initially promised that Giphy would be available to other social networks. However, CMA's investigation into the acquisition shows that it will hinder competition.

CTOnews.com attached here a description of Shutterstock and Giphy as follows:

ShutterstockShutterstock is an American supplier of photo libraries, photo materials, photo music and editing tools, headquartered in New York.

Founded in 2003 by programmer and photographer John O'Ninger, Shutterstock has a royalty-free library of about 200 million pictures, vectors and illustrations, as well as about 10 million video clips and music tracks that are licensed to users.

Giphy:Giphy, generally written as GIPHY, is a GIF search engine in the United States, where users can search for the corresponding GIF by entering text.

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