Shutterstock to acquire Giphy from Meta for $53 million in cash

Shutterstock Inc has announced its acquisition of Giphy Inc, an animated-images platform, from Meta Platforms Inc for $53 million in cash. The purchase comes after Britain's competition regulator ordered Meta to sell Giphy over concerns that it could limit competitors' access to its content. Giphy's repository of animated images and web-based stickers is used on popular platforms such as Facebook, Instagram, TikTok, and Microsoft Teams, and its content garners 15 billion daily impressions. The deal will allow access to approximately 1.7 billion daily users, according to Shutterstock.

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