Facebook's estimated $400 million acquisition of Giphy is now under antitrust scrutiny in the UK and Australia

Facebook's $400 million acquisition of popular GIF site Giphy is being probed by the UK's competition watchdog. Facebook announced it was buying Giphy, a searchable library of shareable images, in May. The company said Giphy will be folded into the team at Facebook-owned Instagram and its vast library of GIFs will continue to operate separately.
Read more: https://www.businessinsider.com/facebook-400-million-giphy-competition-cma-probe-2020-6?source=Snapzu