Last Updated: May 23, 2023, 17:43 IST
Meta is prepared to promote Giphy
The animated photographs platform Giphy Inc has been owned by Meta Platforms for a number of years.
(Reuters) -Stock images repository Shutterstock Inc stated on Tuesday it could purchase animated-images platform Giphy Inc from Meta Platforms Inc for $53 million in money.
The transaction will likely be funded by present cash-on-hand and contains an mental property-sharing deal that will enable Meta continued entry to Giphy’s content material, Shutterstock stated.
Shutterstock, whose shares moved up 4% premarket, made no modifications to its 2023 income and adjusted earnings margin steering.
The deal is anticipated to shut subsequent month.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – Reuters)
