Facebook buys Giphy
Facebook has bought Giphy, a popular tool for creating the animated images known as GIFs that pepper conversations around the internet.
The companies did not disclose financial terms.
Facebook said in a blog post that it plans to integrate Giphy into Instagram but added that Giphy will still work outside of Facebook's properties.
The company says about half of Giphy's traffic comes from Facebook's apps but it is also widely used on Twitter and in messaging apps.
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