Meta (formerly known as Facebook) declared its desire to acquire Giphy in May 2020 more than two years ago. However, the transaction swiftly drew the notice of the UK’s competition authorities, who was concerned that Meta’s ownership of the popular gif-sharing service could hinder other platforms’ access to its material, among other things. As a result, the CMA officially ordered Meta to unwind the arrangement and sell Giphy in November of last year.
