By Staff Reporters
Meta, the Facebook tech giant sold the GIF platform it had recently bought at a steep loss after the UK’s competition regulator demanded it unwind its acquisition over antitrust concerns.
Meta had acquired Giphy in 2020 for $400 million, and just sold the company to Shutterstock for nearly $350 million less than that—$53 million. This was the first instance of British authorities dismantling a Big Tech deal that had already closed
***
COMMENTS APPRECIATED
Thank You
***
***
Filed under: "Ask-an-Advisor", Accounting, Breaking News, Information Technology | Tagged: Facebook, FB, GIF, giphy, Meta, Meta Sells Giphy | Leave a comment »














