Meta Sells Giphy to Shutterstock for $53 Million to Comply With UK Regulator Order

Meta Sells Giphy to Shutterstock for $53 Million to Comply With UK Regulator Order
Shutterstock said on Tuesday it would buy animated-images platform Giphy from Meta Platforms for $53 million (roughly Rs. 438 crore) in cash, months after the Facebook owner had agreed to divest the company on competition concerns.