March 25, 2023
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Meta agrees to sell GIF gallery platform Giphy

The UK Competition and Markets Authority (CMA) announced on Tuesday (10/18) the final ruling in the case of Meta’s acquisition of GIF gallery platform Giphy, pointing out that the transaction did harm market competition, and had formally requested Meta to sell Giphy, while Meta has also decided to accept this ruling. According to a report by “CNBC”, this should be the first time in the world that a regulatory authority has withdrawn a deal that has been completed by a technology giant (Big Tech).

Ewen Eagle

I am the founder of Urbantechstory, a Technology based blog. where you find all kinds of trending technology, gaming news, and much more.

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