Shutterstock to Acquire GIPHY, the World's Largest GIF Library and Search Engine

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by Samuel Pordengerg May 24, 2023 News
Shutterstock to Acquire GIPHY, the World

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It has a mobile content platform with 1.7 billion daily users and global partners.

GIPHY, Inc. was acquired by Meta Platforms, Inc.

Shutterstock to acquire GIPHY, the world’s largest collection of GIFs and stickers that supplies casual conversational content.

More than 15 billion daily media impressions and more than 1.3 billion search queries are generated by GIPHY. GIPHY's owned and operated website and mobile app are used to distribute these impressions. In addition to integrations with most mobile devices, GIPHY's content serves as a critical ingredient in text- and message-based conversations on platforms such as Meta. GIPHY's content library is powered by both individual artists who contribute original content and top verified media partners such as NBC, Disney, NFL, MLB, and NBA, ensuring a steady supply of fresh culturally relevant content which can be inserted into everyday conversations and shared via social media.

"This is an exciting next step in Shutterstock's journey as an end-to-end creative platform," commented Paul Hennessy. Shutterstock is a company that helps brands tell their stories. Through the GIPHY acquisition, we are broadening our audience touch points to include casual conversations. GIPHY allows everyday users to express themselves in memorable ways with Gifs and Stickers, while also allowing brands to be a part of these casual conversations. As we roll this offering out to customers, we plan to use Shutterstock's unique capabilities in content and metadata monetization, generative artificial intelligence, studio production and creative automation.

There are strategic highlights.

  • Augments has a generative artificial intelligence and Metadata strategy.

  • Taps into a large and growingTAM in native advertising for brands seeking touch points with customers in-moment via mobile phones and communications tools.

  • There is over 75% positive sentiment for GIFs among consumers.

  • The combined companies will be able to provide world-class custom content solutions for brands and advertisers.

  • There are 1.7 billion daily users who generate 1.3 billion search queries.

  • GIPHY's more than 14,000 partners are included in the extension of Shutterstock'sAPIecosystem.

The highlights of the financial year.

  • The consideration includes net cash paid at the closing and working capital.

  • Cash consideration is funded with cash on hand and an existing revolving credit facility.

  • The current owner of GIPHY, Meta Platforms, Inc., is entering into an agreement to ensure continued access to GIPHY's content.

  • The revenue and adjustedEBITDA margin guidance of Shutterstock is maintained.

  • GIPHY is expected to add minimal revenue in the next two years.

  • The transaction is expected to close in June.

There is a link to the presentation material at investor.shutterstock.com.

CapM Advisors acted as financial advisor to the company.

About the company.

The world can create with confidence with the help of Shutterstock, Inc. Fueled by millions of creators around the world and a fearless approach to product innovation, Shutterstock is the leading global platform for licensing from the most extensive and diverse collection of high-quality 3D models. From the world's largest content marketplace, to breaking news and A-list entertainment editorial access, to all-in-one contentediting platform and studio production service,Shutterstock offers the most comprehensive selection of resources to bring stories to life.

Follow us on social media and learn more at www.shutterstock.com

There are forward-looking statements.

The Private Securities Litigation Reform Act of 1995 requires forward-looking statements to be made. Statements of historical fact are the only ones that are forward looking. Examples of forward looking statements include, but are not limited to, statements regarding guidance, industry prospects, future business, future results of operations or financial condition, new or planned features, products or services, management strategies and our competitive position. The words "may", "would", "should", "could", "expect", "aim", "anticipate", "believe", "estimate", "intend", "plan", "predict", "project" are examples of forward- These words are not included in some forward-looking statements. The forward-looking statements contained in this document are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ. The caption "Risk Factors" in our most recent Annual Report on Form 10-K is one of the risks and uncertainties discussed. There are a number of factors that could cause actual results to differ from those contemplated by the forward-looking statements. As a result of such risks, uncertainties and factors, Shutterstock's actual results may differ from any future results, performance or achievements discussed in or implied by the forward-looking statements. The forward-looking statements contained in this press release are made only as of this date and Shutterstock assumes no obligation to update the information included in this press release, whether as a result of new information, future developments or otherwise.

Shutterstock, Inc. is a source of information.

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