Meta Sells Giphy To Shutterstock at a Loss in a $53 Million Deal

Slashdot
By msmashMay 23, 2023, 10:40 am122 pts
The online stock-photo marketplace Shutterstock announced Tuesday it would acquire Giphy from Meta Platforms for $53 million, a significant loss for Meta, which acquired Giphy in 2020 for $315 million. From a report: The acquisition is an all-cash deal, and in an investor presentation, Shutterstock said it…

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