Giphy, styled as GIPHY, is an American online database and search engine that allows users to search for and share short looping videos with no sound, that resemble animated GIF files. On 15 May 2020, GIPHY was acquired by Facebook for a reported cash price of $400 million.
Even with over 150 million monthly users and a valuation of $600 million, Giphy’s business model is still in its growth stage and the company hasn’t started earning money yet.
The operating model of Giphy is a lot different from that of its competitors. Opening up many new and different revenue generation opportunities for this search engine.
Giphy was launched in 2013 as a search engine dedicated only to GIFs. The founders, Alex Chung and Jace Cooke collected around 15000 gifs when they started the website.
Today, Giphy delivers over 1 billion GIFs daily to over 100 million users who spend over 2 million hours to watch those GIFs.
What is GIPHY?
GIPHY is the best way to search, share, discover, and create GIFs on the Internet. The content on GIPHY’s website, app, and API is all of the best and most popular GIFs on the web. Along with content created by talented GIF artists and world-class brands. With the main goal being to help make finding and sharing the good GIFs easier.
Find the GIF you are looking for by searching a term or set of terms in the search bar atop giphy.com. They automatically return results based on the relevance of the term you searched. If you don’t see what you’re looking for, add some more specific terms to the end of your search.
Toggles can also be useful to help find what you’re looking for. Use the Newest toggle to sort your GIF results by the day they were added to GIPHY. Use the Stickers toggle to view only Sticker results for that term.
2016 was a great year for GIFs and Giphy. Facebook, being the world’s biggest social network lent its audience to Giphy and other GIF hosting websites. Particularly, when it started the GIF integration by letting users share them through links.
How does Giphy work?
Content looks better when in motion. And also, text and images work great for telling stories. But sometimes you need to make them in motion for users to experience them. Motion content has two categories – Videos and Gifs.
Videos, due to its duration and other factors, require a sort of commitment from both the creator and the audience. Whereas GIF is an art. GIFs are an addictive and hilarious sequence of images, compiled together to create a short, looped animation.
These short animations are on the rise ever since these were integrated into social networking websites like Reddit, Tumblr, etc. Where they were used as reactions and replies. Memes also come in the form of GIFs and Giphy, being a GIF warehouse, has seen many new users visiting just for them.
A google for shareable GIFs lets you search for, share, and download GIFs. But this is not just how Giphy works. Giphy has now evolved into a suite of GIF- based products. Like – video to GIF converter, GIF keyboard, and enterprise tools which help media companies turn their content into GIFs.
Its operating model is different from other search engines. Whereby, it doesn’t redirect its users to third party websites. Gifs are found and can be downloaded, shared, and embedded from Giphy itself. However, a link is provided to the website where the image is hosted.
GIPHY lets you save all the GIFs you can’t live without in one convenient place!
Toss that desktop folder full of GIF files in the trash, and upgrade to using GIPHY Favorites!
- Make sure you’re signed in to your GIPHY account. You can either hit Log In on the top right hand on the screen or just click Favorites on the Nav Bar to access your Favorites. If you’re not signed in, you’ll be auto-prompted to do so. [Find out more about creating a GIPHY account here.]
- Once you’re logged in, go to any awesome GIPHY GIF and roll over the image. Did you notice the Heart icon shows up in the right corner? When you click that icon, the GIF will be automatically added to your list of favorite GIFs!
- Tired of a GIF? You can deselect that same Heart icon again to remove it from your list.
- Visit giphy.com/favorites on desktop, or use the Heart menu icon on mobile, to see all your precious GIFs and Stickers. Your favorites appear everywhere you are logged in, so if you favorite something from your computer, you can easily text it to your friends later without having to search again.
How does Giphy make money?
The world’s biggest search engine of GIFs hasn’t monetized its services yet. Unlike its biggest competitor, Imgur, Giphy has no plans yet to earn money through promoted posts.
Giphy’s operating model is a lot different from that of Imgur. Unlike Imgur, which is an image sharing and hosting service provider, it is a search engine. And according to Adam Leibsohn, the chief operating officer at Giphy, they do have plans to make money like other search engines.
As Giphy doesn’t own the right of the images, it cannot generate revenue from licensing or selling them. The only option left is to earn money by showing sponsored results to the search queries of the users just like what google does.
And since Giphy has integrated its services with various chatboxes, keyboards, and social networking websites, it won’t be difficult for it to get clients.
It has partnered with (and is open to partner with) many big brands and artists who showcase their content in the form of GIFs. The main motive behind these partnerships is to get more brands (and their fans) onboard. Eventually, which will later pay for putting their content at the top of the search results.
Giphy doesn’t charge brands and artists to open up a brand channel though.