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British watchdog investigates takeover of gif platform by Facebook

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The British competition authority has launched an investigation into Facebook’s acquisition of Gif’s gif platform, CNN reports. The acquisition reportedly involved $ 400 million last month.

The United Kingdom’s watchdog will investigate whether the acquisition will damage competition in the British market.

The Australian regulator also announced an investigation earlier this week. “If it turns out that we have problems with it, we will, of course, go to court,” said chairman Rod Sims. It is unclear whether the American competition authority will also look into the takeover.

Immediately after the takeover, Facebook promised that Giphy’s gifs would also be available for social media other than Facebook and Instagram.

Integration with Instagram

Gifs are short, repetitive videos with scenes from, for example, films and TV series. The videos are used on social media as a joke and to express emotions.

The gif program integrates with Instagram, which is also from Facebook. In response to the British regulator’s decision, Facebook is said to have halted integration for the time being.

“Giphy gives Instagram users more options by giving them more features and tools,” Facebook said in a statement. “We are willing to show the regulator that this acquisition is good for consumers, developers and designers.”

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