Daily Crunch: Facebook is acquiring Giphy

Facebook acquires a popular GIF search engine, video game sales see major growth and Sorrentino reports promising results for a COVID-19 treatment. Here’s your Daily Crunch for May 15, 2020. 1. Facebook to acquire Giphy in a deal reportedly worth $400 million Facebook will acquire Giphy, the web-based animated GIF search engine and platform provider.…

Daily Crunch: Facebook is acquiring Giphy

Facebook acquires a popular GIF search engine, video game sales see major growth and Sorrentino reports promising results for a COVID-19 treatment.
Here’s your Daily Crunch for May 15, 2020.
1. Facebook to acquire Giphy in a deal reportedly worth $400 million
Facebook will acquire Giphy, the web-based animated GIF search engine and platform provider. The company confirmed the deal but isn’t disclosing the terms; Axios reports that it’s worth around $400 million.
Giphy has grown to be a central source for shareable, high-engagement content, and its animated response GIFs are available across Facebook’s platforms, as well as through other social apps and services. Most notably, Giphy provides built-in search and sticker functions for Facebook’s Instagram, and it will continue to operate in that capacity.
2. US video game sales have record quarter, as consumers stay at home
New numbers from NPD confirm what we’ve known for a while: The first quarter of 2020 was a very good one for gaming companies. The new report notes that sales hit a record $10.86 billion in the U.S. between Janua
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