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Jasmine1205
2023-05-23

$Meta Platforms, Inc.(META)$ Shutterstock on Tuesday said it agreed to buy Giphy from Facebook parent Meta Platforms for $53 million in net cash, ending a yearslong legal battle that forced the sale of the social-media animated-images company.

Shutterstock, a New York provider of licensed content, said the deal adds a mobile content platform with 1.7 billion daily users and global partners that include Instagram, Facebook, WhatsApp, Microsoft, TikTok, Samsung, Twitter, Slack and Discord.

Meta last year said it would sell Giphy after the U.K.’s top competition authority affirmed an earlier order to undo its 2020 acquisition of the company for $315 million.

# 💰 Stocks to watch today?(26 Apr)

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psk
·2023-05-25
ok thanks
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