> “Marketplace commentary and user sentiment towards GIFs on social media shows that they have fallen out of fashion as a content form, with younger users in particular describing GIFs as ‘for boomers’ and ‘cringe’,” the company wrote in a submission to the CMA.
actually reading the article in full, it's clear GIPHY and Meta are mentioning this with a BIASED motive to present their investment as non competitive.
If giphy was doing so amazing, how does that explain the enormous write down today? Sure you can argue Meta overpaid, and there are some bounds applied by the regulator on how they could sell it, but I don't think that accounts for the entire gap.
