Giphy, the popular search engine for GIFs, is on a roll.
In May, the company launched a keyboard for iOS called ‘Giphy Keys,’ which allowed users to send GIFs from any app they want. Earlier this month, the company announced it’s bringing GIFs to augmented reality through its new app on iOS.
“The Internet is sizzling with GIFs these days because it is the perfect format for snappy expression,” said DJF Growth Partner and GIPHY board member, Barry Schuler, in a statement. “Giphy with its full stack approach from search to authoring tools to direct integration with messaging apps has made it really easy and fun for consumers to engage. It’s no wonder their usage and engagement numbers are exploding.”
Giphy was founded in 2013 by Alex Chung and Jace Cooke, who built the platform’s prototype as part of a 'Hacker-in-Residence' program at New York startup studio, betaworks. Over the past three years, Giphy’s rapid growth has drawn a wealth of investor attention, though the company currently doesn’t generate any revenue.
Giphy is entertaining and simple to use, and the platform is integrated into most chat platforms. From its russian roulette-style functionality in Slack to its ability to break the ice via a pop culture reference on Tinder, Giphy’s whimsical, quippy clips are perfect for today’s graphic and shareable internet.
The new funding brings Giphy’s total amount of venture capital raised to $151 million, with a valuation reported at $600 million, according to the Wall Street Journal. The round was led by Draper Fisher Jurvetson (DFJ), with participating investments from IVP, CMC Capital, as well as existing investors.
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