Facebook Inc. acquires Giphy, a popular website for create and share animated images, or GIFs, Facebook said in a blog post on Friday.
The charges, which were not disclosed, were placed around $ 400 million by news website Axios. The companies did not immediately respond to requests for comment.
The announcement comes at a time when the largest social media network is under investigation by regulators for anti-trust issues.
Giphy becomes part of Instagram, the photo sharing site owned by Facebook. The GIF library, which can be integrated with other apps, will be further integrated into Instagram and other apps owned by Facebook.
“People will still be able to upload GIFs; developers and API partners will continue to have the same access to GIPHY’s APIs; and the GIPHY creative community will continue to be able to create great content,” said Vishal Shah, Instagram’s vice president of product, in the blog post.
“We continue to make GIPHY publicly available to the wider ecosystem,” Giphy said in a post on blogging website Medium.
Facebook’s blog post stated that 50% of Giphy’s traffic comes from Facebook’s apps, half of which come from Instagram.