Meta Platforms has agreed to sell Giphy to Shutterstock for $53 million in net cash, winding down a yearslong legal battle with the UK Competition and Markets Authority, which ordered the divestiture. Shutterstock, which licenses photos and other image content, said Giphy adds 1.7 billion in daily mobile users and global partners that include Meta’s own Instagram, Facebook and Whatsapp in addition to Microsoft, Samsung, Twitter, TikTok, Slack and Discord. Meta acquired Giphy in 2020 for $315 million and was one year later ordered by the UK CMA to unwind the deal, citing antitrust issues. Continue reading Meta Platforms Is Selling Giphy to Shutterstock for $53 Million

Social media platforms, which have had challenges maintaining a safe, socially conscious online environment — as the year’s spate of whistleblower disclosures and global regulatory hearings proves — may face an even tougher time maintaining civility in the metaverse. The shift from monitoring text, images and video to supervising a live 3D world will be orders of magnitude more complicated, observers say. According to a 2020 safety video for “Horizon Worlds,” a game Facebook developed for its virtual reality platform Oculus Quest, the company plans to record what happens in the metaverse, storing data that transpires in users’ VR headsets. Continue reading Meta Building a Safe Metaverse While Expanding VR Holdings

Facebook disclosed plans to buy Kustomer, a customer relationship management startup, in a deal valued by sources at close to $1 billion. Crunchbase stated the New York-based Kustomer has raised about $170 million in venture capital funding. Kustomer would help Facebook provide customer support on its main platform and its services such as WhatsApp, Instagram and Facebook Messenger. The deal, subject to regulatory scrutiny, comes as Facebook is already being investigated for its acquisition of startups as anticompetitive behavior. Continue reading Facebook Plans to Buy Customer Service Startup Kustomer