Facebook appeals UK Giphy verdict

Facebook-owner Meta is appealing Britain’s ruling that it must sell animated images platform Giphy.

Meta says evidence does not support the finding that the deal is a threat to its rivals or could impact competition in display advertising.

Last month, Britain’s Competition and Markets Authority (CMA) ordered Meta to sell Giphy, which it acquired for a reported $400 million in May 2020.

Half of traffic to Giphy’s huge library of looping videos comes from Meta’s platforms Facebook, Instagram and WhatsApp.

Its GIFs are also popular with users of TikTok, Twitter and Snapchat, and the CMA was concerned Meta could limit access or force rivals to provide more user data.

The regulator was also concerned Meta had closed down Giphy’s fledgling advertising business, removing a potential source of competition.