On May 23, Shutterstock announced that they would be acquiring GIPHY (yay!). As of today, we are excited to share that the deal has closed and GIPHY is now officially a part of Shutterstock (double yay!).
Shutterstock shares many of the same values as GIPHY. We are both dedicated to providing high-quality and expressive content to our users. We both see the value in how visual communication can add dimensions of creativity and personality to everyday storytelling. And we both value our people — employees, users, partners, creators, and our community at large — above all.
“Shutterstock has always been a home for creativity and we at GIPHY are grateful for the warm welcome to the Shutterstock family.” — Alex Chung, founder and CEO GIPHY
In addition, there is an incredible amount of potential for what our two companies can accomplish together. Per Shutterstock’s announcement:
- Augments Shutterstock’s generative AI and metadata strategy, including mobile generative AI at global scale
- Taps into a large and growing TAM in native advertising for brands seeking touch points with customers in-moment via mobile phones and communications tools
- Expands Shutterstock’s content library to include GIFs and stickers used in more casual conversations — GIFs have over 75% positive sentiment among consumers
- Combines Shutterstock Studios and GIPHY Studios to enable world-class custom content solutions for brands and advertisers
“This is an exciting day for both of our teams and we look forward to officially welcoming GIPHY to Shutterstock,” said Paul Hennessy, Shutterstock CEO. “GIPHY has built an amazing brand and a dedicated following of billions of users around the world since launching in 2013 and we can’t wait to see what they do next as part of Shutterstock.”
Even though our path to get here hasn’t been the most direct, we at GIPHY are super grateful for where we’ve landed and we can’t wait to see what we build together with Shutterstock. Stay Animated and stay tuned for more.
Thanks for always looping with us.
