Shutterstock completed the acquisition of GIPHY for $53m.

Shutterstock, a premier partner for transformative brands, digital media and marketing companies, completed the acquisition of GIPHY, an American online database and search engine for gif, for $53m. "This is an exciting next step in Shutterstock's journey as an end-to-end creative platform. Shutterstock is in the business of helping people and brands tell their stories. Through the GIPHY acquisition, we are extending our audience touch points beyond primarily professional marketing and advertising use cases and expanding into casual conversations. GIPHY enables everyday users to express themselves in memorable ways with GIF and sticker content while also enabling brands to be a part of these casual conversations. We plan to leverage Shutterstock's unique capabilities in content and metadata monetization, generative AI, studio production and creative automation to enable the commercialization of our GIF library as we roll this offering out to customers," Paul Hennessy, Shutterstock CEO.