# @morningbrew on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/Csm07JXSBrA
- **Gondola URL:** https://gondola.cc/posts/7651738-morningbrew-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/87de8620e4.jpg
- **Posted:** 2023-05-24T01:00:37.000+00:00
- **Account Owner:** Morning Brew ☕️ (@MorningBrew) — https://gondola.cc/MorningBrew

## Caption

Meta was served a huge L today at the hands of UK regulators.⁠
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In a deal dating back to 2020, Meta had purchased GIF database and search engine Giphy for a reported sum of $400M.⁠
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With concerns over competition in the “short looping videos” space, UK authorities launched an antitrust investigation that ultimately ordered Meta to sell the service in August 2021.⁠
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Today, the saga came to an end as the tech giant agreed to sell Giphy to Shutterstock for a price of $53M.⁠
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The sale is set to be finalized sometime next month, and amounts to a loss of nearly $350M for Meta. Tough break.⁠
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#meta #giphy #shutterstock #gifs #socialmedia #businessnews

## Stats

- **Views:** 0
- **Likes:** 3,553
- **Shares:** 0
- **Comments:** 77

## Tags

shutterstock, meta, businessnews, giphy, socialmedia, gifs

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