Meta to sell giphy. Nov 30, 2021 5:19AM EST (RTTNews) - The Meta, the company until very, very recently known as Facebook, has been ordered to sell Giphy, the GIF-making and sharing platform, by the UK's competition regulator. The Competition and Markets Authority (CMA) first ordered the Meta is to sell Giphy following a decision by the UK's Competition and Markets Authority to prevent the acquisition. The investigation into the acquisition has been acrimonious, with Meta previously being fined £50m by the CMA for Shutterstock announced Tuesday that it will buy animated-image platform GIPHY from Meta for $53 million in cash. Meta: UK competition regulator tells Facebook owner to sell GIF library Giphy. regulators, who again found that the deal to buy the GIF-sharing platform would limit Stock-photo website Shutterstock on Tuesday said it will acquire Giphy and its online repository of animated images for $53 million, after UK antitrust regulators forced Meta to spin off the Meta is selling Giphy, whose library of GIFs and images includes this popular Kailia Posey image, to Shutterstock. Which is a significant discount on the $400 million that Meta paid for Giphy back in 2020. With limited interest in GIF platforms and UK regulators forcing a sale, Meta has decided to sell Giphy to Shutterstock for a mere $53 million. 05% of Meta's ad revenue - "literally minuscule" - while Giphy sold no ads in Britain or elsewhere. [36] Partnerships. Meta Platforms, Facebook's owner, has agreed to sell Giphy to Shutterstock for $53m (£42m), just three years after reportedly paying $400m for the animated images supplier. Meta said it would accept the Competition and Markets Authority's (CMA) order to unwind the The UK’s Competition and Markets Authority (CMA) has ordered Facebook, now formally known as Meta, to sell animated image database Giphy. ’s AP reports that on Oct. " Meta Platforms Inc. In its report of 30 November 2021 the CMA found that the completed merger between Meta and GIPHY will give rise to a substantial lessening of competition. The authority’s findings showed Meta’s ownership of Giphy would let the company limit the usage of gifs on competitors’ platforms, and require U. RTTNews. antitrust regulator initially ordered Meta Platforms to sell Giphy 18 months ago, it hoped to ensure that the startup—a library for animated images known as GIFs—would prosper More about Meta buying Giphy. Meta agreed to the sale, though it stated that it disagrees with the decision itself. first ruled that Facebook must sell Giphy in late 2021, a decision Meta appealed. The CMA has explained that its extraordinary order for Meta to unwind the Giphy acquisition is based on three serious competition concerns:-The first concern is that Facebook reportedly paid $400 million for Giphy, according to Axios. Meta's, then Facebook's, acquisition of Giphy, which it just sold for 13 percent of what it paid for it, was in trouble almost as soon as it was announced, with the UK's Competition and Markets Authority (CMA) demanding answers as to what would come of such a sale a month Britain's competition regulator last year ordered Meta to sell Giphy over fears that it could deny or limit competitors such as Snapchat Inc , opens new tab and Twitter access to the target's content. A Bye-bye: Meta has again been ordered by the U. . The decision follows a 'stay of execution' for Meta this summer, after the U. The CMA had several competition concerns, such as Meta restricting access to GIFs. After purchasing it for $315 Meta ordered to sell Giphy by UK antitrust authorities By Mark Thompson, CNN Business 3 minute read Updated 10:07 AM EST, Tue November 30, 2021 Link Copied! Video Meta will have to unwind one of its significant acquisitions. 18 that the acquisition would hinder competition in the display advertising market. It also ruled that had Giphy continued to operate these services, it may have done so in competition with Meta and other companies, leading to positive change driven by competition, which the market Further, it ruled an independent Giphy would encourage “greater innovation” from Meta and others, while pointing out Meta had “terminated” Giphy’s ad services upon acquisition, “removing a potential ad tool for UK businesses. Backstory: Meta, then still known as Facebook, paid around $400 million to buy Giphy in 2020. The UK's Competition and Markets Authority (CMA) today ordered Facebook owner Meta to sell Giphy, saying the merger "would reduce competition between social media platforms and that the deal has Meta, the parent company of Facebook, has been ordered by the United Kingdom's Competition and Markets Authority (CMA) to sell GIF-making site Giphy. Here is why Meta bought Giphy and why it all went so wrong. When Meta bought Giphy, it had thought of incorporating Giphy’s vast database of looping short video animations with Instagram, which is a social media platform that Meta owns. 's competition watchdog to sell animated GIF platform Giphy. The Competition and Markets Authority (CMA) said LONDON — Meta said on Tuesday that it would sell Giphy, the online repository for video clips of pets, facial expressions and other animated GIFs, a major Facebook and Instagram parent company Meta says it will accept a ruling by the UK competition watchdog to divest itself of social media GIF library Giphy. October 18, 2022 at 2:03pm BST. The social media company will let much of Giphy’s operations go unchanged, including the ability for users to upload GIFs. The U. The UK's Competition and Markets Authority (CMA) regulator has ordered Meta to sell Giphy after it lost its battle at the Competition No GIFs, ands, or buts about it — Meta grudgingly agrees to sell Giphy after admitting defeat in UK battle Giphy is worried that GIFs becoming "cringe" will “dampen investor appetite. Contributor. Today’s decision means that Meta has run out of options in the UK and Meta’s share of the £7 billion advertising market in the UK, equivalent to almost half, was cited as context, and as a point of concern. Unfortunately, that couldn’t happen because CMA did not approve it. Meta, then known as Facebook, The CMA’s decision required Meta to sell Giphy to a purchaser approved by the CMA. The company, then known simply as Meta has been ordered to sell gif platform Giphy for the second time by the UK competition regulator, bringing an end to the $315mn deal following a two-year Meta has sold animated-gif search engine Giphy to Shutterstock for $53m (£42m), despite paying $400m for it just three years ago. And Meta said it accepted Tuesday’s CMA decision as the final word on the matter, and would sell off Giphy, settling a dispute that has seen both sides remain at loggerheads for Meta, following an antitrust lawsuit, is siphoning off Giphy, an embedded platform to share looped animated videos (otherwise known as gifs). The Tribunal upheld the CMA’s decision on 5 Additionally, the CMA has also ordered that Meta will need to deposit at least $75 million in cash with Giphy. Why it matters: This is the first time Meta has been forced by antitrust regulators to sell an asset. ’s Competition and Markets Authority (CMA) has made a final decision and ordered Meta, which operates Facebook, WhatsApp and Instagram, to sell GIF provider Giphy. Martyn Landi 18 October 2022. Meta, the owner of Facebook, admitted defeat Tuesday after U. regulators, who again found that the deal to buy the GIF-sharing Meta Giphy: Britain's Competition and Markets Authority (CMA) last year ordered Meta to sell Giphy, which it had acquired in 2020. Meta’s purchase of Giphy By Paul Sandle. ” The only solution according to the CMA is “for Giphy to be sold off in its entirety to an approved We would like to show you a description here but the site won’t allow us. 's competition regulator ordered Facebook’s parent company, Meta, to sell the animated image-sharing platform Giphy on Tuesday, a move that is set to unwind an 19 month-old While Meta appealed a November 2021 order to sell, the CMA once again has stood by its decision to force the company to divest Giphy. From a report: The Competition and Markets Authority said on Tuesday that Meta's purchase of New York-based Giphy -- the biggest provider of animated images known After a year-long appeal, the regulators ordered Meta to sell Giphy. ’s $315 million purchase of a GIF search engine is set to be blocked again by the UK’s antitrust watchdog bringing to an end years of uncertainty over the deal. The CMA’s move marks the first time regulators successfully According to the CMA, the $315 million deal that gave Meta ownership of Giphy would reduce competition among social media platforms and ad businesses. S. The decision concludes a ten-month long investigation into the May 2020 acquisition, which saw Facebook purchase Giphy for an estimated $400 million (£290 million), quickly raising The UK’s Competition and Markets Authority (CMA) Tuesday issued an order requiring Meta (previously Facebook) to sell online image platform Giphy over competition concerns about the supply of display advertising and social media services in the country. Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, the final step to unwind the deal blocked by British regulators, who prevented the Facebook owner from purchasing The CMA first told Meta in November that the only way to get rid of these concerns was to sell Giphy, which it appealed. It said the deal removed a potential competitor in display advertising, based on the possibility that Giphy's fledgling ads, or "paid alignment", business could become substantial. 's Competition and Markets Authority blocked the deal in a decision released Tuesday. Britain's Competition and Markets Authority (CMA) last year ordered Meta to sell animated images platform Giphy, which it acquired for a reported $400 million, because of its concerns about a loss Facebook-owner Meta is appealing Britain's ruling that it must sell animated images platform Giphy, saying the evidence does not support the finding that the deal is a threat to its rivals or Jowell said Giphy's revenue in the United States was less than 0. Meta, the parent company of popular platforms like Facebook and Instagram, has finally sold GIPHY, the well-known animated GIF search engine, for $53 Meta conceded on Tuesday to the United Kingdom's demand that it sell the animated photo platform Giphy, and instead will undo its acquisition of the New York City-based company. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) The U. 's competition authority. government’s Competition and Market Authority ruled on Oct. "We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter," a Meta spokesperson said in a statement. Meta sells Giphy to Shutterstock at a $260m loss | Engineering and Technology Magazine The UK competition watchdog has directed Facebook, which was recently renamed to Meta, to sell Giphy, after concluding that the social media conglomerate's acquisition of the GIF giant would Meta Platforms Inc. Britain's competition regulator has told Facebook owner Meta to sell GIF library platform Giphy after finding that the acquisition could distort the digital advertising market and harm social LONDON: Britain's competition regulator has ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday (Oct 18) after a tribunal upheld its view that the acquisition could After reviewing the case further, the Competition and Markets Authority concluded that “the only way to avoid the significant impact the deal would have on competition” is for Meta to sell Giphy to an approved buyer. The Tribunal handed down its judgment on Meta’s appeal today. K’s Competition and Markets authority announced that Meta is set to sell Giphy following the authority’s antitrust ruling. After a long-running court battle in the UK, Meta has lost its bid to take over leading GIF platform Giphy, which now means that Meta will now be forced to divest the platform, and step away from the $400 million takeover arrangement. "The Competition and Markets By August 2021, it ruled Meta’s ownership of Giphy could allow the company to prevent rivals like TikTok and Snapchat from accessing Giphy’s GIF library. Why it matters: If this sounds like déjà vu, that's likely because you remember that the CMA told Meta to sell the GIF platform last November. " It found that the deal Over the course of the investigation, Meta submitted proposals for other actions it could take to remedy the antitrust concerns that would stop short of having to sell Giphy, such as selling a Meta has been ordered to sell gif platform Giphy for the second time by the UK competition regulator, bringing an end to the $315mn deal following a two-year antitrust battle. This Monday, Britain's antitrust watchdog, the Competition and Markets Authority (CMA), upheld its decision from last year that Meta's purchase of Giphy would Meta accepts UK order to sell Giphy after antitrust battle The ruling was the first time a regulator had forced a U. "We will work closely with the CMA on divesting Giphy. Having initially purchased Giphy for $315 million in 2020, Meta now faces a loss of $262 million. Meta acquired the popular platform in 2020 for $315 million but was ordered to divest the company by the U. The UK’s competition watchdog today flexed its muscle as it ordered Facebook to sell Giphy, the GIF platform it bought for $400 million last year. Meta subsequently appealed that decision to the Competition Appeal Tribunal. The UK Competition and Markets Authority (CMA Meta is offloading Giphy — which maintains the world’s biggest database of animated GIFs — to content marketplace company Shutterstock, taking a steep loss on the forced sale. In July 2022, the CAT upheld the CMA’s decision on five of the six challenged Meta was originally ordered to sell Giphy last year but they appealed. Following the acquisition, Meta shut down Giphy’s advertising business, stamping out a competitor to its own business in the process. to Shutterstock Inc. As a condition of the sale, Facebook and Instagram will have continued access to Giphy's content, alongside The UK Competition and Markets Authority (CMA) says Meta must sell Giphy and the company confirms it will comply. Britain's Competition and Markets Authority (CMA) last year ordered Meta to sell Giphy, which it had acquired in On Tuesday, the U. Meta said it accepted Tuesday’s CMA decision as the final word on Three years after Facebook parent company Meta bought Giphy for $315 million, it’s selling the GIF search engine to Shutterstock for just $53 million, a $262 million loss on the deal. Meta shared that it will cooperate with the ruling rather than Britain's Competition and Markets Authority (CMA) last year ordered Meta to sell animated images platform Giphy, which it acquired for a reported $400 million, because of its concerns about a loss Jowell said Giphy's revenue in the United States was less than 0. , formerly known as Facebook, lost its fight to retain animated image database Giphy. Meta completed its purchase of Giphy in May 2020, but authorities began probing the deal soon after. government's insistence that it sell animated picture platform Giphy, agreeing Tuesday to unwind its acquisition of the New York-based Britain's competition regulator has ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday after a tribunal upheld its view that the acquisition could damage its rivals and remove a potential competitor in advertising. According to the CMA, Meta failed to notify the regulator about the resignation of three key employees and the reallocation Facebook parent Meta said Tuesday Oct. Today, the UK’s Competition and Markets Authority (CMA) announced that Meta had failed on five of the six objections raised Britain's Competition and Markets Authority (CMA) last year ordered Meta to sell Giphy, which it had acquired in 2020. 's CMA had ordered Meta to sell Giphy as the antitrust watchdog deemed the The U. Consequently, Meta had to sell Giphy at a significant loss of $262 million within two years of its acquisition. The Meta has agreed to sell Giphy, a platform of sharable animated images and microvideos, to Shutterstock for around $53 million in cash. The CAT confirmed the CMA's assessment and Meta, formerly known as Facebook, has agreed to sell GIPHY to Shutterstock for $53 million, significantly lower than the $400 million Meta paid for the acquisition in 2020. 71% on Tuesday said it agreed to buy Giphy from Facebook parent Meta Platforms META -1. ” Facebook, before it rebranded as Meta, acquired Giphy in 2020, in a deal reportedly worth $400 million. 18, Meta agreed to sell Giphy after failing to prove to U. Meta first bought Giphy in 2020, but the purchase later came under scrutiny from the U. at a huge loss after it was ordered to divest the company on competition grounds. ’s Competition and Markets Authority is urging Meta (META Facebook parent Meta's been putting up a strong fight appealing the U. Giphy purchase. Eileen AJ Connelly. The Competition and Markets Jowell said Giphy's revenue in the United States was less than 0. The UK’s antitrust authority finalized its decision to force Facebook parent company Meta to sell off Giphy, the GIF search engine and database it bought for $315 million in 2020. competition regulators issued a final verdict ordering the company to sell its animated Meta finally concedes that it will have to sell Giphy after the UK competition regulator, the CMA, found that the takeover could harm social media users and UK Stock-photo website Shutterstock on Tuesday said it will acquire Giphy and its online repository of animated images for $53 million, after UK antitrust regulators forced Meta to spin off the Shutterstock announced today that it has entered into an agreement with Meta to buy Giphy in a transaction that “consists of $53 million of net cash paid at Shutterstock announced Tuesday, May 23, that they will acquire Giphy from Meta Platforms for $53 million — marking a loss of hundreds of millions of dollars for Facebook-parent Meta plans to sell off Giphy, an online search tool for animated images, after the UK government said it would force the tech giant to unwind The UK’s competition regulator has officially ruled that Meta’s acquisition of Giphy should be unwound. Meta may now appeal the Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, the final step to unwind the deal blocked by British regulators, who prevented the Facebook owner from purchasing The U. Diana Moss, the president of the American Antitrust Institute, called the CMA decision cutting-edge. 0. ’s Competition and Markets Authority (CMA) ordered Meta to sell Giphy, the library for GIFs and video clips that Facebook acquired in May 2020, for a reported $400 million. Bye-bye: Meta has again been ordered by the U. ” While disappointed about the decision, a Meta spokesperson told reporters , “We will work closely with the CMA on LONDON: Facebook parent Meta said Tuesday that it will sell off Giphy after running out of options to thwart a ruling by UK regulators, who again found that the deal to buy the GIF-sharing The UK's antitrust regulator has ordered Facebook's parent company, Meta, to sell Giphy, a popular GIF sharing platform. When a U. When Facebook first attempted to acquire Giphy in mid-2020, 50% of Giphy's search engine traffic already came from the Facebook group of News. Facebook owner Meta started its appeal on Monday against Britain's ruling that it must sell Giphy, arguing the fact that rival Snap offered far less to buy the animated-images provider undermined the rationale used to block the deal. Meta Platforms Inc. TNW Conference 2025 - Back to NDSM on June 19-20, 2025 - Save the date! As we wrapped up our incredible 2024 edition, we're pleased to announce our return to Amsterdam NDSM in 2025. 05 percent of Meta’s ad revenue – “literally minuscule” – while Giphy sold no ads in Britain or elsewhere. Meta went so far as to list a number of companies that looked into buying Giphy before talks stalled, including Amazon, Apple, TikTok owner Bytedance, Snap, Twitter, and Adobe. As rumored, the UK's Competition and Markets Authority (CMA) has ordered Meta (Facebook) to sell Giphy, saying the deal "could harm social media users and UK advertisers. The user emotes and the Giphy tracks the user to enable Meta to add to your user profile regardless of whether you have a FB account or not. Meta accepted the ruling as final on Tuesday. Meta said it would accept the Competition and Markets Authority's order to unwind the 2020 deal. Facebook parent Meta says it will sell off Giphy after running out of options to thwart a ruling by U. Meta, the largest provider of social media sites and display advertising in the UK, acquired GIPHY, the largest provider of GIFs. But then again, as per Giphy’s own argument, GIFs ‘have fallen out of fashion as a The Meta-Giphy case suggests a new set of standards is emerging in global antitrust regulation. O to sell animated-images platform Giphy on Tuesday after its view that the acquisition reduced Facebook-parent Meta plans to sell off Giphy, an online search tool for animated images, after the UK government said it would force the tech giant to unwind its acquisition of the service. Share on Social Media. The move requires Meta to unwind a $400 million deal that Stock-photo website Shutterstock on Tuesday said it will acquire Giphy and its online repository of animated images for $53 million, after UK antitrust regulators forced Meta to spin off the Shutterstock subsidiary Giphy, reporting as ordered. A turnaround Meta, the parent company of Facebook, has been ordered to sell Giphy due to the "risk of a substantial lessening of competition in the social media and display advertising market. Facebook's parent company, Meta, has been ordered to sell Giphy by the UK's Competition and Markets Authority. Facebook owner Meta has given up its fight against the U. At the Meta, Facebook's parent, has been told by the U. [35] [3] The acquisition was completed on June 23, 2023. Facebook LONDON: Facebook parent Meta said Tuesday that it will sell off Giphy after running out of options to thwart a ruling by U. “Together, Meta and Giphy would enhance Giphy’s product for the millions of people, businesses, developers and API partners in the UK and around the world who use Giphy every day, providing more FILE - The Facebook logo is seen on a cell phone, on Oct. And since Meta shuttered Giphy's own advertising business post-acquisition, the CMA Meta, formerly known as Facebook, hit a major snap with United Kingdom authorities earlier this year when it was told to sell off its $400 million acquisition of the Giphy . Shutterstock, the stock image site, will acquire the platform for $53 million in cash and the deal is expected to close next month. Meta Agrees To Sell Giphy, Ending Battle With UK Regulators. Meta declined to comment on the ruling. Facebook parent Meta said Tuesday that it will sell off Giphy after running out of options to thwart a ruling by UK regulators, who again found that the deal to buy the GIF-sharing platform would limit competition and innovation. By Luke Jones-October 19, 2022 6:13 pm CEST. 39 % increase; green up pointing triangle said it would sell its social-media animated-images company Facebook parent company Meta has been ordered by the Competition and Marketing Authority to sell Giphy, after an inquiry found the merger affects advertisers, users and rival companies. This comes three years after Meta acquired Giphy for a hefty sum of $400 million. 18, 2022 it will sell off Giphy after running out of options to thwart a ruling by U. Britain's competition regulator ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday after its view that the acquisition reduced innovation in the advertising market was upheld by a tribunal in the summer. The CMA published its original Phase 2 decision on this case in November 2021, finding that the deal could harm social media users and UK advertisers, and ordering Meta to sell Giphy. The regulator said Meta owning Giphy will harm social media users and U. from Meta Platforms, Inc. regulators, who again found that the deal to buy the GIF-sharing “Together, Meta and Giphy would enhance Giphy’s product for the millions of people, businesses, developers and API partners in the UK and around the world who use Giphy every day, providing Facebook parent Meta has sold animated-gif search engine Giphy at a loss after a UK regulator blocked its acquisition of the company. The Competition and Markets Authority said that , “the only way to avoid the significant impact the deal would have on competition” is for the Facebook parent company to sell the GIF-sharing By Pushkala Aripaka and Paul Sandle. At In brief: The United Kingdom's Competition and Markets Authority (CMA) has ordered Facebook parent company Meta to jettison Giphy, the search engine for GIFs it acquired in mid-May for a reported The sale was prompted by the UK's CMA, which ordered Meta to divest Giphy due to concerns over monopolistic practices and restricted access to Giphy content by competitors. CMA Wants Meta To Sell Giphy . After reviewing the case further, the Competition and Markets Authority concluded that “the only way to avoid the significant impact the deal would have on competition” is for Meta to sell Giphy to an approved buyer Technology conglomerate Meta Platforms Inc. 84% for $53 million in net cash, ending a Meta has largely failed in an appeal against the UK competition regulator’s ruling that it must sell online image platform Giphy, in a blow to the social media giant’s Shutterstock Inc said on Tuesday it would buy animated-images platform Giphy Inc from Meta Platforms Inc for $53 million in cash, months after the Facebook Judges with the Competition Appeal Tribunal have told the UK’s competition regulator, the Competition and Markets Authority (CMA), to reconsider its previous ruling Facebook owner Meta has been told by the UK competition watchdog to sell popular animated images platform Giphy in Britain's first such move against so-called Big Tech in its efforts to bolster The decision isn’t a huge surprise, as the Competition and Markets Authority (CMA), which regulates competition in the UK, ruled last November that Meta would have to sell Giphy, saying that it Meta has largely failed in an appeal against the UK competition regulator’s ruling that it must sell online image platform Giphy, in a blow to the social media giant’s hopes to add services “Together, Meta and Giphy would enhance Giphy’s product for the millions of people, businesses, developers and API partners in the UK and around the world who use Giphy every day, providing Talk about a fire sale. 169. A court ruled against that appeal in June, sending the matter back to the country’s Competition and Online stock photo marketplace Shutterstock announced Tuesday it would acquire Giphy from Meta for $53 million. The CMA investigated the sale and published its original decision Meta is set to sell Giphy to Shutterstock for $53 million, a massive write down for the Facebook parent, which bought the sharable GIF and microvideo service for $315 million in 2020. The UK’s competition watchdog has reissued an order to Facebook’s parent firm Meta to sell Giphy. advertisers. “There is a high risk that Today in Europe, the Middle East and Africa, the U. What did UK regulators say to Meta? Meta bought Giphy for US$315 million in 2020, with the company hoping that they could integrate the service with Instagram so that people could seamlessly add GIFs to their Meta Forced to Sell Giphy in UK Antitrust Case Facebook's parent company Meta acquired the gif-sharing company in 2020, amid probes by anti-competition regulators. WASHINGTON (AP) — Shutterstock said Tuesday it’s buying Giphy from Meta Platforms for $53 million, the final step to unwind the deal blocked by British regulators, who prevented the Facebook By Paul Sandle. Shutterstock announced Tuesday, May 23, that they will acquire Giphy from Meta Platforms for $53 million — marking a loss of hundreds of millions of dollars for the Facebook owner, who agreed to sell last year after its 2020 We would like to show you a description here but the site won’t allow us. Facebook will acquire Giphy, the web-based animated gif search engine and platform provider, Facebook confirmed today, in a deal worth around $400 million, according to a report by Axios. Facebook-parent Meta plans to sell off Giphy, an online search tool for animated images, after the UK government said it would force the tech giant to unwind its acquisition of the service. com RTTNews Published. FILE - Attendees visit the Meta booth at the Game Developers Conference 2023 in San Francisco on March 22, 2023. 14, 2022, in Boston. The CMA is ordering Meta to sell Giphy. Shutterstock, a leading provider of stock photos, videos, and music, announced the deal, stating that it Topline. ’s purchase of GIF search engine Giphy will be sent back to the UK antitrust regulator for a further review after a court found concerns in the agency’s investigation approach. ’s Competition and Markets Authority (CMA) has made a final decision and ordered Meta, which operates Facebook, WhatsApp and Instagram, to sell Shutterstock SSTK -1. Today's directive is effectively the same as that handed down in August, when the Competition Markets Authority voiced concerns that could only be Meta antitrust case The announcement comes about seven months after the UK’s Competition and Markets Authority (CMA) issued a final order for Meta to sell Giphy, saying that the merger reduced Facebook appeals UK ruling that it must sell Giphy Britain's Competition and Markets Authority ordered Meta to sell Giphy, which it acquired for a reported USD 400 million in May 2020 after it A UK competition regulator, Competition and Markets Authority, CMA, has ordered Meta to sell Giphy. While Meta acquired Giphy in 2020 for $400 million, the company ran into issues in the following year. today said it has agreed to sell Giphy Inc. The sale comes after a New Delhi: Meta, formerly known as Facebook, has reached an agreement to sell Giphy, the popular animated GIF search engine, to Shutterstock for $53 million. LONDON: Facebook parent Meta said Tuesday that it will sell off Giphy after running out of options to thwart a ruling by U. 18, 2022 it will sell off Giphy after running out of options to thwart a The CMA published its original Phase 2 decision on this case in November 2021, finding that the deal could harm social media users and UK advertisers, and ordering Meta to sell Giphy. Meta acquired Giphy in 2020 for what was reported to be around $400 million, which means the forced sale to Shutterstock places the value of the GIF platform significantly lower now three years later. antitrust decision investigating and ultimately ordering Meta to sell Giphy, the GIF marketplace that it acquired back in The CMA’s competition concerns. May 23, 2023 @ 6:59 AM. However, its subsidiaries like Facebook, WhatsApp, and Instagram maintain their original branding. In order to address the Horizontal and Vertical SLCs, the CMA required Meta to (a) sell GIPHY in its entirety to an independent purchaser with the capability and a demonstrable commitment to developing and providing GIF-based advertising in the UK and GIFs to social media platforms, (b) transfer at least US$75 million in cash to GIPHY, and Meta said it would accept the Competition and Markets Authority’s (CMA) order to unwind the 2020 deal. " Meta’s Jowell said Giphy’s revenue in the United States was less than 0. to sell Giphy, the first time a global regulator has forced a Big Tech firm to unwind a completed deal. for a second time after an appeals court sent the decision back to the regulator for reconsideration. Meta finally exhausted all of its appeals and the CMA affirmed its ruling this past October: Meta must sell GIPHY. In a press Meta has decided to stop fighting the UK regulator over its $400 million acquisition of Giphy and will now proceed to sell Giphy's global operations. From a report: The acquisition is an all-cash deal, and in an investor presentation, Shutterstock said it would maintain its full-year revenue The UK competition watchdog has ordered Meta, the owner of Facebook, to sell Giphy after deciding purchase of the animated GIF creator platform will damage rivals, consumers and advertisers. Giphy is one of the most popular GIF-sharing platforms on the internet, with the company reporting over 200 million active And so with that, regulators in the United Kingdom have decided that Meta needs to reverse its acquisition and sell off Giphy. Meta acquired Giphy in May 2020 for $400 million with plans to integrate the platform’s Facebook parent Meta said Tuesday that it will sell off Giphy after running out of options to thwart a ruling by U. Meta appealed, but this time, it's actually over. The deal is s significant loss for Meta, which acquired Giphy in 2020 for $315 million. In November 2021, CMA ordered Meta to sell Giphy, but the social media giant subsequently appealed that decision to the Competition Appeal Tribunal (CAT). regulators that the deal wouldn't hurt competition and innovation. The purchase is targeted to close in June 2023, Shutterstock noted. LONDON: The UK Competition and Markets Authority (CMA) has fined Meta (formerly Facebook) $2 million for failing to disclose key changes regarding its $315 million acquisition of online database and search engine Giphy. META 1. LONDON (Reuters) - Facebook (NASDAQ: FB) owner Meta has been told by the UK competition watchdog to sell popular animated images platform Giphy in Britain's Meta has finally sold GIPHY for $53 million. As reported by CNBC: “Citing the risk of a substantial lessening of competition in the social media and “By requiring Facebook to sell Giphy, we are protecting millions of social media users and promoting competition and innovation in digital advertising,” added McIntosh. Meta will not appeal LONDON, April 25 (Reuters) - Facebook owner Meta , opens new tab started its appeal on Monday against Britain's ruling that it must sell Giphy, arguing the fact that rival Snap offered far less to Meta, the owner of Facebook and Instagram, has been ordered by the UK competition regulator to sell the GIF library Giphy. Meta subsequently appealed that decision to the Competition Appeal Tribunal (CAT). In July, The CMA issued a provisional finding in August 2021 saying the merger would harm competition, and that the only effective remedy would be for Meta to sell Giphy. “We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter. 39 % increase; green up pointing triangle owner Meta Platforms Inc. “By requiring Facebook to sell Giphy, Together, Meta and Giphy would enhance Giphy ’s product for the millions of people, businesses, The UK ordered Meta to sell Giphy at the end of 2021, and now the social media heavyweight is following through. Today, Shutterstock revealed that it has entered into a definitive agreement to acquire GIPHY, Inc. regulators, who again found that the deal to buy the GIF-sharing platform would limit competition and innovation. [Related reading: UK orders Meta to sell Giphy, and it’s final] A bit of backstory Three years after Facebook parent company Meta bought Giphy for $315 million, it’s selling the GIF search engine to Shutterstock for just $53 million, a $262 million loss on the deal. The UK's competition watchdog has reissued an order to Meta to sell animated images platform Giphy. According to the regulator, Meta's control of Giphy would reduce competition between social media platforms. Reply reply More replies More replies. for a cash payment of $53 million upon completion, which includes working capital. Britain’s competition watchdog had ordered Meta last year to reverse the deal — a year after it was announced — but Since Giphy's acquisition, the Facebook group of companies has been renamed to Meta. 's competition watchdog that it must sell GIF-sharing platform Giphy. ’s Competition and Markets Authority has ordered social media giant Meta, formerly known as Facebook, to sell GIF provider Giphy. 's competition watchdog. LONDON — Meta, Facebook’s parent, has been told by the U. As a result, Meta has agreed to the sale. . K. In a statement to Semafor, a spokesman said that it was disappointed but would work closely with the regulator “on divesting Giphy. The deal is a significant loss for Meta, which had reportedly paid around $400 The UK's antitrust regulator issued a ruling Tuesday saying Meta, formerly Facebook, must sell Giphy, the gif-database company it bought for $400 million in May 2020. It said the deal removed a potential competitor in display Meta's hopes to acquire Giphy are finally kaput after the U. Facebook parent Meta said Tuesday Oct. LONDON, Oct 18 (Reuters) - Britain's competition regulator ordered Facebook-owner Meta META. LONDON (Reuters) - Britain's competition regulator has ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday after a tribunal upheld its view that the (RTTNews) - The UK's Competition and Markets Authority or CMA, ordered Meta Platforms, Inc. It’s Shutterstock, the famous stock photo company, which agreed to buy Giphy from Meta for $53 million. recently upheld a previous ruling that Meta must sell Giphy. The Competition and Markets Authority (CMA) said the The UK’s competition regulator has forced Meta, Facebook’s parent company, to sell online image platform Giphy, the first time it has unwound a completed Facebook parent Meta must sell GIF-sharing platform Giphy to avoid potential harm to consumers and marketers, Britain’s competition watchdog confirmed in Meta has sold animated-gif search engine Giphy to Shutterstock for $53m (£42m), despite paying $400m for it just three years ago. Meta did not CMA ordered Meta to “sell GIPHY, in its entirety, to a suitable buyer. It said that it was unfair to the competing social media Meta had bought Giphy - the largest supplier of animated gifs to social networks such as Snapchat, TikTok and Twitter - in 2020. The Competition and Markets Authority (CMA) said the ruling was a "final Britain's competition regulator has ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday after a tribunal upheld its view that the acquisition could damage its rivals and Facebook parent Meta must sell GIF-sharing platform Giphy to avoid potential harm to consumers and marketers, Britain’s competition watchdog confirmed in a final ruling on Tuesday. But, Meta isn't completely cutting its ties with GIPHY. LONDON - Facebook owner Meta started its appeal on Monday against Britain's ruling that it must sell Giphy, arguing the fact that rival Snap offered far less to buy the animated-images provider Shutterstock shares advanced in early trading on Tuesday morning after the company said it was buying animated images platform Giphy from Meta Platforms for $53 million. Facebook META 1. (META), on Tuesday to sell its animated GIF platform, Giphy, as its acquisition adversely impacts the The CMA has ordered Meta to sell Giphy (PA) PA Archive. ” The U. regulators, who again found that the deal to buy the GIF-sharing Meta’s long-running legal battle over its acquisition of Giphy has finally come to an end, with the company agreeing to sell Giphy to Shutterstock for $53 million. The $53 million all-cash deal represents a significant loss for Meta, which acquired Giphy for $315 million in 2020, meaning the company is selling it at a nearly $262 million loss. [34] In May 2023, Shutterstock announced it would buy Giphy from Meta Platforms Inc for $53 million in cash. Back in 2021, the UK government ordered Meta to sell Giphy, and now the buyer has been announced. B ritain’s antitrust watchdog ordered Facebook parent Meta Platforms Inc. regulators, who again found that the deal to buy the GIF-sharing Shutterstock is buying Giphy for $53 million after Meta’s acquisition of the popular GIF platform was blocked by the UK’s competition regulator, the stock image giant has announced. And this time it's final. tech giant to sell an already acquired company, and signalled a new 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. Meta acquired Giphy for almost eight times that amount in 2020, when the The Competition and Markets Authority said Tuesday it’ll order Meta to sell Giphy Inc. “Both consumers and Giphy are better off with the support of our infrastructure, talent, and resources,” the company said. GIF search engine. Stock photo provider Shutterstock has reached a deal to buy Giphy from Meta for $53 British's competition regulator has ordered Meta, Facebook's parent company, to sell Giphy. Also, it revealed that Meta’s The Shutterstock acquisition shouldn't noticeably affect Meta's social network users. ’s competition watchdog that it must sell GIF-sharing platform Giphy. The Competition and Markets Authority (CMA) stated in a news statement that it found Facebook's acquisition of Giphy "concerning" and damaging to social media platform competition. Shutterstock LONDON - Facebook parent Meta said Tuesday that it will sell off Giphy after running out of options to thwart a ruling by U. LONDON, April 25 (Reuters) - Facebook owner Meta started its appeal on Monday against Britain's ruling that it must sell Giphy, arguing the fact that rival Snap offered far less to FILE - The Facebook logo is seen on a cell phone, on Oct. czv wlwqmi iki aietkai gbohd hyyuga kocga qzyyvara zbhnyy fyf