Tag Archives: Giphy

Court adjourns Facebook parent Meta’s Giphy tie-up appeal, Marketing & Advertising News, ET BrandEquity

Facebook, Featured Articles

Facebook announced the purchase of Giphy in May 2020 for $315 million. A British court on Thursday adjourned an appeal by Facebook‘s owner Meta against a competition regulator ruling that it should be forced to sell online GIF creator Giphy. The Competition and Markets Authority (CMA) in November found Meta’s purchase of Giphy — which supplies animated GIFs or mini videos to major social networks — would give the US behemoth too much market share. Adjourning the case at London’s Competition Appeal Tribunal after four days of […]

Read more
Leave a comment , , , , , , , , , , ,

Facebook appeals UK ruling that it must sell Giphy, Marketing & Advertising News, ET BrandEquity

Facebook, Featured Articles

This image is for representational purpose only. (File image: iStock) Facebook-owner Meta is appealing Britain’s ruling that it must sell animated images platform Giphy, saying the evidence does not support the finding that the deal is a threat to its rivals or could impact competition in display advertising. Britain’s Competition and Markets Authority (CMA) ordered Meta to sell Giphy, which it acquired for a reported $400 million in May 2020, last month after it decided the remedies offered by the US company did not answer its concerns. […]

Read more
Leave a comment , , , , , , , ,

UK fines Facebook over Giphy takeover breach, Marketing & Advertising News, ET BrandEquity

Facebook, Featured Articles

This image is for representational purpose only. Britain’s competition watchdog said on Wednesday, it had fined social network giant, Facebook over £50 million for the “deliberate” failure to supply information linked to its takeover of animated graphics startup, Giphy. The Competition and Markets Authority said the fine totaling £50.5 million ($69.5 million, 60 million euros) was imposed for “consciously refusing to report all the required information” concerning the purchase last year. “We warned Facebook that its refusal to provide us with important information was a breach of […]

Read more
Leave a comment , , , , , , , ,