Monday, December 5, 2022
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Meta finally has to sell Giphy

Here are some things you should know

  • Meta will have to now divest Giphy in response to the CMA Order from the U.K.
  • Meta’s acquisition of Giphy by Meta in 2020 caused problems with U.K. antitrust regulators in the year that followed, citing possible social media issues.
  • Meta currently works alongside the CMA in the beginning of the Giphy selling process.

Meta accepted an order from the U.K. to sell Giphy GIF Maker.

The Verge reported that five out of six objections raised by Meta during the appeal to the order were rejected by the U.K. Competition and Markets Authority. A Meta spokesperson told The Verge, “We are disappointed by the CMA’s decision but accept today’s ruling as the final word on the matter. The CMA will continue to work with us on Giphy divestment.

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