Facebook says it acquired animated graphics startup GIPHY

Facebook said Friday it had acquired the animated graphics startup GIPHY and would integrate the company in its Instagram visual social network. Terms of the deal were not disclosed, but the news site Axios said the California-based tech giant was paying $400 million. GIPHY is known for its use of stickers and other products using the graphics interchange format or GIFs.

"GIPHY, a leader in visual expression and creation, is joining the Facebook company today as part of the Instagram team," Facebook said in a statement. "GIPHY makes everyday conversations more entertaining, and so we plan to further integrate their GIF library into Instagram and our other apps so that people can find just the right way to express themselves."

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