Wednesday, May 7, 2025

Facebook Purchases Popular Meme Platform GIPHY for $400 Million

Say goodbye to internet humour as we know it! On Friday, Facebook Inc (NASDAQ: FB) announced it will be buying Giphy, the popular platform of animated images, mostly of which are funny memes. This acquisition coincides with Facebook’s previously announced plan to introduce an AI which will be able to effectively identify any hateful memes that lurk around on the world wide web.

According to an initial report by Axios, facebook purchased Giphy for a total of $400 million, and plans to add the animated images library to its Instagram platform. Facebook has had its sights set on Giphy for awhile, and even teased a partnership with the company prior to the coronavirus pandemic. However, the primary reason that the social media giant has finally snagged Giphy is most likely because of the shiny dollar signs that will erupt after Giphy is slapped with some new marketing and ad sales.

But wait – this is where it gets really ironic. Earlier this week, Facebook unveiled a new contest which calls for various researchers to compete for a top prize if they successfully invent a new AI that is able to uncover and flag offensive memes. This new Giphy acquisition, along with the potential AI development, really shows how obsessed the social media platform has become with succumbing to any fad demands that the left side of the political spectrum makes.

However, the left’s obsession with eradicating any and all forms of internet hate speech is not going to be an easy task. Most likely the main reason why Facebook unveiled a contest for the development of a new AI for combatting hate speech in the first place, is because it is very difficult to invent a new algorithm that can successfully comprehend internet images the way humans do.

For example, when we laugh at a Carol Baskin meme on the internet, the photoreceptors in our eyes react to both the wording as well as the picture simultaneously. But, algorithms fall short because they can only interpret the picture and the wording separately, rather than together as an entire image. This leads to a significant problem, because the algorithm is not able to distinguish between supposed hate speech and a meme that’s just really funny. As a result of this serious shortcoming, Facebook has accidentally banned a vast number of innocent users from the platform.

Nonetheless, it will be interesting to see how this all plays out. Either we will be bombarded with copious amounts of advertising content next time we scroll for the perfect GIF to express our disdain for political correctness, or we just simply won’t find any good memes at all because they have suddenly disappeared – like Carol Baskin’s ex-husband.


Information for this briefing was found via CNBC and Zero Hedge. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Related News

Facebook: Analysts Expect $3.03 In Q2 Earnings Per Share

Facebook (NASDAQ: FB) will be reporting its second quarter financial results today after the markets...

Wednesday, July 28, 2021, 11:20:00 AM

Facebook Provides Insight Into Advertising Impacts of Apple’s Privacy Update

After first unveiling its controversial App Tracking Transparency feature back in June 2020, Apple is...

Sunday, May 2, 2021, 10:40:00 AM

Chinese-Based Baidu Applies for ‘Meta’ Trademark Right After Zuckerberg Changes Facebook Name

It appears that Mark Zuckerberg may soon face some rivalry, after Chinese search engine company...

Wednesday, November 3, 2021, 04:55:00 PM

Is Trump Returning to Twitter and Facebook?

Wanting to return to power with a fresh bid for the presidency in 2024, Donald...

Thursday, January 19, 2023, 11:11:43 AM

Facebook: BMO Anticipates Several Headwinds To Hit Top Line

On October 25th, Facebook (NASDAQ: FB), now called Meta Platforms, reported their 2021 third quarter...

Monday, November 1, 2021, 02:56:00 PM