Shutterstock Outlines Its Vision for Giphy's Potential Ad Offer

Its CEO Paul Hennessy believes that the impending ad platform could be worth hundreds of millions of dollars

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The launch of Giphy’s native advertising platform, set to be revealed at the end of this year, will be worth hundreds of millions of dollars, proclaimed its new owner Shutterstock’s chief executive Paul Hennessy during the company’s most recent quarterly earnings call.

Shutterstock acquired Giphy from Meta in May in a cut-price deal of $53 million after the social media giant was forced to sell the gif library and search engine after Britain’s Competitions and Markets Authority ruled its ownership to be anti-competitive.

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