GIPHY: the app you wish your parents never found out about.
Background: Meta own a tonne of different companies. We've got Facebook, Instagram, WhatsApp, Oculus (to control the metaverse, of course) and GIPHY. The app you wish your parents never found out about.
What happened: Even though UK regulators initially approved Meta's acquisition of GIPHY, they're doing a full 180.
What else: They reckon Meta is controlling access to GIPHY's GIFs, and this is affecting the digital advertising market (coz everyone wants a gif). Now, the watchdog is ordering Meta to sell GIPHY ASAP.
💡Meta have managed to maintain market dominance in the social network industry with a buy or crush approach.
💡They identify rivals in their early growth stages...and try to acquire them (i.e. Instagram and WhatsApp) and if that don't work, just flat out copy and squash them (Snapchat with Stories...or TikTok with Reels).
💡But the regulators are finally catching on. This latest move in the UK is an example of regulators finally getting some teeth, and sinkin' them into Meta.
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