Following UK antitrust order, Meta sells Giphy to Shutterstock for $53M after buying it for $400M

Meta has finally found a willing buyer for Giphy, the animated GIF search engine it acquired for $400 million three years ago.
Shutterstock announced today that it has entered into an agreement with Meta to buy Giphy in a transaction that “consists of $53 million of net cash paid at closing,”  meaning Facebook’s parent company has recuperated just 13% of its money. Shutterstock said it expects the deal to close next month, with Meta also signing a commercial agreement to continue accessing Giphy’s content across its product suite.
The announcement comes some seven month

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