The Uk Watchdog Forces Meta To Sell Giphy
Dates back to 2020, Meta bought Giphy for $400 million, and now all Meta platforms are using Giphy animations. However, the CMA believes this acquisition is harmful to the competition in the market. The verdict is announced Tuesday, and Meta has appealed it. The CMA ruling seems justified, and there is no way to bypass it. The UK regulator says Giphy is one of the few GIF platforms, and Meta’s control over it can create a monopoly....