Although Meta is selling Giphy to Shutterstock, its services will continue to be available on the platform. If you normally use GIFs on Facebook, Instagram, or Whatsapp, Giphy’s gifts will still function properly on those platforms. The transaction is scheduled to close in June, so it’s not too far away. This is a loss for Meta, but it is a win for Shutterstock. This transaction will only net Meta $53 million.
