Shutterstock, Inc. (NYSE: SSTK), a premier partner for brands, digital media and marketing companies, is to acquire Giphy, Inc., a collection of GIFs and stickers that supplies casual conversational content, from Meta Platforms, Inc.
Consideration for the transaction, which is targeted to close in June 2023, subject to customary closing conditions, consists of $53m of net cash paid at closing, inclusive of working capital.
The acquisition adds a mobile content platform with 1.7 billion daily users and global partners including Instagram, Facebook, WhatsApp, Microsoft, TikTok, Samsung, Twitter, Slack and Discord. In connection with this transaction, GIPHY’s current owner, Meta Platforms, Inc., is entering into an API agreement to ensure continued access to GIPHY’s content across Meta’s platform.
Giphy provides a library of GIFs and stickers that draws more than 1.3 billion search queries on a daily basis and powers more than 15 billion daily media impressions. These impressions are distributed via its more than 14,000 API/SDK integrations and its owned-and-operated website and mobile app. Giphy’s content serves as a critical ingredient in text- and message-based conversations on platforms such as Meta, other social media platforms such as TikTok, Twitter and Snapchat and team collaboration platforms such as Slack and Microsoft Teams, in addition to integrations with most mobile devices. The content library is fueled by both individual artists who contribute original content and top verified media partners such as NBC, Disney, Netflix, NFL, MLB, and NBA, ensuring a supply of fresh culturally relevant content which can be inserted into everyday conversations and shared via social media.
FinSMEs
23/05/2023