Oh Facebook You may be forced to sell your GIF site after the trial United Kingdom. The country’s competition commission said Thursday (12) Agreements between companies can be detrimental to the graphic advertising market.
Giphy, a site that allows you to create and share GIFs, was acquired by Facebook in May 2020, which wanted to integrate with Instagram. The deal is worth $ 400 million Through the “Axios” website.
In January 2021, the UK Competition and Market Authority (CMA) began an inquiry into the deal. In April, the company ordered an in-depth investigation into the transaction.
“Giffy acquisitions may require more user data to pull or access GIFs from Facebook’s competing sites.
Under investigation, British rival GP plans to expand its paid advertising services before acquiring Facebook United States To other countries such as the UK.
After contracting with the company Mark ZuckerbergAccording to the CMA, the Giffy advertising partnership is over.
“We do not agree with CMA’s initial findings, and we do not believe it is supported by evidence,” a Facebook spokesman said. “As we have shown, this link is for the benefit of the people and businesses in the UK – and around the world.”
A spokesman said Facebook would continue to work with the CMA. Giffie did not comment on the results.
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