UK May Push Facebook (FB) to Sell Giphy Over Competition Concerns

Facebook (FB) takeover of Giphy raises competition concerns, says U.K.'s CMA

August 12, 2021 6:10 AM EDT

The CMA has provisionally found Facebooks merger with Giphy will harm competition between social media platforms and remove a potential challenger in the display advertising market.

The merger brings together Facebook, (NASDAQ: FB) the largest provider of social media sites and display advertising in the UK, with Giphy, the largest provider of GIFs.

If the Competition and Markets Authoritys (CMA) competition concerns are ultimately confirmed, it could require Facebook to unwind the deal and sell off Giphy in its entirety.

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Facebook may have to sell GIF-maker Giphy on UK competition concerns

August 12, 2021 5:28 AM EDT

By Pushkala Aripaka

(Reuters) -Britain might require Facebook to sell GIF website Giphy after the country's competition regulator said on Thursday its investigation found the deal between the two companies would hurt the display advertising market.

Facebook, the world's largest social media company, bought Giphy, a website for making and sharing animated images, or GIFs, in May last year to integrate it with its photo-sharing app, Instagram. The deal was pegged at $400 million by Axios.

The UK's Competition and Markets... More

Softbank (SFTBY) Posts a $2.1 Billion Profit Thanks to Rising Startup Valuations, No Longer Invested in Microsoft (MSFT) or Facebook (FB)

August 10, 2021 6:51 AM EDT

Shares of Softbank Group (OTC: SFTBY) closed 0.9% higher in Tokyo today after the company said it recorded a 236 billion yen ($2.14 billion) profit in the first quarter. However, net profit fell 39% to 762 billion yen.

The Japanese company saw its major assets, like Didi Global (NASDAQ:... More