For those working at Giphy, whats the sentiment with the acquisition? Good? Bad? Saw the last valuation was at $600M but Im unsure if selling was the best option for you all.
Wow. Well done Giphy.
2 friends of mine work at Giphy. One is an animator and the other is a SWE. They are both pretty happy about the acquisition
One of them hinted that Giphy was having financial troubles due to the pandemic, so Giphy may have been forced to take the acquisition so it won't go down.
In the engineering department, who all got FB offers, the sentiment is pretty high. Since I joined late my GIPHY stock options ended up next to worthless but the TC jump going into FB is nice.
I am guessing that Giphy was running out of money and no longer had VC support for additional investment. So essentially had to sell now at a reduced price.
How much did they acquire for?
$400m