GIF

Facebook buys GIF-maker Giphy to add to Instagram team

A report from Axios values the deal at $400m (£330m), but Facebook would not confirm the final price.

In a blog post, Instagram's VP of Products Vishal Shah said third party firms would still have access to Giphy's library of GIFs and stickers.

But many of those sites including Twitter and Pintrest are direct competitors to Facebook.

A Graphical Interchange Format or GIF is an animated image or short soundless video that plays on a continuous loop without requiring the viewer to press play.