https://wccftech.com/facebook-nasdaq-fb-adds-giphy-to-its-family-of-apps-even-as-it-combats-a-slump-in-ad-spending/ > Facebook (NASDAQ:FB) has announced the acquisition of the popular GIF platform, GIPHY, for its Instagram app. Just moments before Facebook’s blog post went live on Friday, Axios revealed in an exclusive scoop that Facebook would reportedly pay $400 million for the platform. > According to Axios, the two companies had commenced negotiations before the advent of the coronavirus (COVID-19) pandemic but that those talks were more focused on exploring synergies rather than an outright buyout.