Meta to sell Giphy at $260 million+ loss

Ordered to sell by UK's competition regulator

Tom Allen
clock • 1 min read
Meta to sell Giphy at $260 million+ loss

In the same week as being hit with a $1 billion fine, Meta has agreed to sell GIF platform Giphy to stock image platform Shutterstock for $53 million: more than $260 million less than it paid for t...

To continue reading this article...

Join Computing

  • Unlimited access to real-time news, analysis and opinion from the technology industry
  • Receive important and breaking news in our daily newsletter
  • Be the first to hear about our events and awards programmes
  • Join live member only interviews with IT leaders at the ‘IT Lounge’; your chance to ask your burning tech questions and have them answered
  • Access to the Computing Delta hub providing market intelligence and research
  • Receive our members-only newsletter with exclusive opinion pieces from senior IT Leaders

Join now

 

Already a Computing member?

Login

You may also like
EU accuses Meta of violating competition rules with 'pay-or-consent'

Law

Meta claims greenlight given by earlier verdict, EU disagrees

clock 03 July 2024 • 2 min read
Labour plans to make tech giants liable for reimbursing victims of online fraud, report

Threats and Risks

Banks have said it's unfair they should bear burden of crimes propagated through tech platforms

clock 30 June 2024 • 3 min read
Microsoft can't guarantee UK data sovereignty

Police

UK policing data may be transferred overseas

clock 24 June 2024 • 3 min read
Most read

Sign up to our newsletter

The best news, stories, features and photos from the day in one perfectly formed email.

More on Mergers and Acquisitions

SoftBank acquires British AI chipmaker Graphcore

SoftBank acquires British AI chipmaker Graphcore

The deal provides Graphcore with resources to scale its operations

clock 12 July 2024 • 3 min read
SAP to acquire AI startup WalkMe for $1.5bn

SAP to acquire AI startup WalkMe for $1.5bn

Will help customers get 'the maximum value out of their IT investments' says CEO Klein

Mark Haranas
clock 06 June 2024 • 2 min read
Google eyes HubSpot acquisition to challenge Microsoft

Google eyes HubSpot acquisition to challenge Microsoft

Microsoft's Dynamics products dominate the modern CRM sector

clock 28 May 2024 • 2 min read