Facebook Purchases .GIF Website Giphy

According to Facebook's news site, the social media giant has snapped up .GIF website Giphy in a deal estimated by Axios to near $400 million USD. With the purchase comes plans to integrate the service into Facebook's various platforms, including Instagram.According to Axios, a source hinted that Facebook and Giphy began discussing a potential partnership before the coronavirus pandemic and these talks blossomed into the acquisition. As explained by Facebook itself, "We've used GIPHY's API for y...