GIFs, once widely used on the web, are on the decline
Posted: Sun Jan 05, 2025 8:06 am
By acquiring Giphy, we are expanding our 'touch points' with our audience beyond the use cases mainly focused on the professional field in the marketing and advertising sector to also make inroads into informal conversations ," Hennessy emphasizes.
“Giphy makes it possible for users to express themselves in a memorable way in their everyday lives through GIFs and stickers, and for brands to take part in those casual el salvador phone number data conversations as well ,” says Shutterstock’s CEO.
Giphy's sale for just $53 million is a far cry from the $600 million valuation the platform reached in 2016, when GIF-based communication ( which had been in decline in recent years ) was still at its peak.
In September last year, Meta tried to prevent the forced sale of Giphy that the CMA's blocking would lead to, arguing that GIFs had become "out of fashion" , particularly among younger users (who often label such content as "cringe").
Meta also insisted in the appeal filed with the CMA that Giphy would have an extremely difficult time surviving as an independent company and that there were also very few companies interested in taking over its business.
Giphy is definitely not a thriving or profitable business. Shutterstock has actually acknowledged that the acquisition of Giphy is highly unlikely to be truly profitable in the short term. “We expect Giphy to add minimal revenue in 2023 and efforts to focus on monetizing its content will not crystallize until 2024,” admits the famous image bank.
“Giphy makes it possible for users to express themselves in a memorable way in their everyday lives through GIFs and stickers, and for brands to take part in those casual el salvador phone number data conversations as well ,” says Shutterstock’s CEO.
Giphy's sale for just $53 million is a far cry from the $600 million valuation the platform reached in 2016, when GIF-based communication ( which had been in decline in recent years ) was still at its peak.
In September last year, Meta tried to prevent the forced sale of Giphy that the CMA's blocking would lead to, arguing that GIFs had become "out of fashion" , particularly among younger users (who often label such content as "cringe").
Meta also insisted in the appeal filed with the CMA that Giphy would have an extremely difficult time surviving as an independent company and that there were also very few companies interested in taking over its business.
Giphy is definitely not a thriving or profitable business. Shutterstock has actually acknowledged that the acquisition of Giphy is highly unlikely to be truly profitable in the short term. “We expect Giphy to add minimal revenue in 2023 and efforts to focus on monetizing its content will not crystallize until 2024,” admits the famous image bank.