target announced Shutterstock, which Giphy bought for $400 million three years ago, is sold for $53 million. The move was a blow for the social networking giant, which it says has only recovered 13 percent of its investment and hopes to gain a foothold in the market for platforms that store loopy motion pictures. gifs.
The operation has not been voluntary since it acquired the Competition and Markets Authority (CMA for its English acronym). announced that a process was opened against the company for violating market competition. and gave him some time to solve this problem.
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Although Meta made every effort not to cancel the operation, in the end In January 2023, the period was reduced to six months.According to specialist tech blog TechCrunch, which explains that the sales process can’t be in parts or splitting the Giphy apart.
(Other news: Meta receives the largest fine in the history of the European Union for data protection)
Currently, this new operation is expected to finally take place next month and Shutterstock was particularly motivated as this platform posted good reach rates.
JUAN DAVID CANO LOPERA
School of Multimedia Journalism EL TIEMPO
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