According to Business Insider, Facebook acquired GIPHY for $400 million dollars.
GIPHY is a popular database that allows users to search for and create GIFs.
In a blog post on Friday, Facebook explained that 50% of GIPHY's traffic comes from Facebook's family of apps.
Half of that traffic is from Instagram alone.
Facebook executive Vishal Shah wrote "By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct."
