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August 12, 2021 04:41 pm

Facebook Could Be Forced by UK Watchdog To Sell Gif Creator Giphy

Facebook could be forced to sell gif creation website Giphy after an investigation by the UK competition regulator found its takeover could harm competition among social media companies and the digital advertising market. From a report: The Competition and Markets Authority (CMA) launched an in-depth investigation earlier this year into Facebook's acquisition of Giphy, the largest supplier of animated gifs to social networks such as Snapchat, TikTok and Twitter, after identifying a number of concerns about the $400m deal which was struck last year. The CMA said in its provisional findings that "our initial view [is] that the only effective way to address the competition issues that we have identified is for Facebook to sell Giphy, in its entirety, to a suitable buyer." The watchdog found that Facebook's ownership of Giphy, which it aims to integrate with its Instagram social media site, could lead to it stopping supplying gifs to other social media sites. Or Facebook could demand more user data from Giphy's social media customers to continue to get access to its gifs, increasing the company's already "significant" market power. "Millions of people share gifs every day with friends, family and colleagues, and this number continues to grow," said Stuart McIntosh, chair of the independent inquiry group investigating the deal. "Giphy's takeover could see Facebook withdrawing gifs from competing platforms or requiring more user data in order to access them."

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