Meta had bought Giphy the largest supplier of animated gifs to social networks such as Snapchat, TikTok and Twitter in 2020. Meta had hoped its purchase of Giphy would improve finding gifs and stickers on its social networks Instagram, WhatsApp and Facebook. The CMA investigated the sale and published its original decision in November 2021, ordering Meta to dispose of Giphy. While Meta maintained that Giphy would be “openly available” to other social networks, the CMA’s investigation found the buyout would harm competition in social media and advertising. Do you think that Meta is trying to harm competition in tech industry ?
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