WASHINGTON—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 GIF-sharing platform over competition concerns.
The stock image service said it’s paying cash for Giphy, which has 1.7 billion daily users and partners including Facebook, Instagram, WhatsApp, TikTok, and Twitter. Shutterstock said it signed a deal to give Meta continued access to New York-based Giphy’s content across Meta’s platforms.
