- Giphy claimed that young users feel gifs “for boomers”, are “cringe”, or “out of style”.
- The gif data made the comments in FilingsWith the UK’s competition watchdog.
- It stated that it had seen a decline of popularity and that Meta would be the only one to buy the company.
Giphy took aim at its product, calling it “out-of-fashion” and claiming that young people think gifs should be “for boomers” or “cringe.”
Giphy lets users upload animated photos and videos. It claimed that content creators are “finding fewer value” in GIFs and that there have been fewer uploads the past two year.
“There are signs of an overall decrease in gif-use,” the UK competition watchdog stated in August in its filings to the UK competition watchdog. It was due to “general waning interest of content partners and user in gifs.”
The gif Database made comments about the decline in popularity. FilingsWith the Competition and Markets Authority, which is trying to stop Meta’s $400M takeover.
Giphy also stated that it has “no meaningful revenue-generating businesses” and would work hand-in-hand to a buyer who has its own user base and can monetize GIF’s.
One month after the announcement of the takeover in June 2020, Meta’s purchase of Giphy was made public by CMA. It was then Meta was ordered to sell the companyBecause a merger would decrease competition among social media platforms, it will be in November 2021.
Giphy is appealing the decision. Giphy insists that Meta would acquire the company to allow the deal to proceed.
According to filings, other companies such as Snap, Apple, Snap, and Twitter expressed interest in Giphy but did not progress beyond initial contacts.
Giphy didn’t immediately respond to Insider’s request for comment.
