Meta sells Giphy to Shutterstock at a massive loss
Meta has been compelled to divest from Giphy based on competition concerns. The company, then still called Facebook, acquired the GIF sharing platform for $315 million in 2020.
Giphy monetizes its services by enabling companies to create branded GIF images, which are then seamlessly integrated i... Read more
Shutterstock partners with OpenAI to create AI-generated images
Shutterstock partnered with OpenAI to create AI-generated images using the DALL-E API.
Shutterstock has been providing stock images to organizations for years. Customers use the service to create brand campaigns and artwork. The business plan for Shutterstock has stayed the same: people upload i... Read more