You Are What You GIF: GIPHY Grows 20X+ in Less Than 24 Months, Serves Over 3BN GIFs per Month, Raises $17 Million in Series B Funding

NEW YORK, Jan. 29, 2015 /PRNewswire/ -- GIPHY, Inc., the world's largest GIF search engine, announced today that it has raised a $17 million Series B financing round led by Lightspeed Venture Partners, with participation from General Catalyst and current investors. GIPHY will use the funding to accelerate its rapid growth, expand its services & capabilities and grow its team as it continues to build the world's GIF platform. GIPHY previously raised $3.5 million in Seed & Series A funding from Betaworks, RRE Ventures, Lerer Hippeau Ventures and CAA Ventures. GIPHY's total funding to date is $20.5 million.

GIPHY has pioneered the way GIFs are discovered and shared across the Internet and mobile, bringing GIFs into the mainstream. Developed at Betaworks and founded in February of 2013, GIPHY quickly set itself apart by building the world's largest GIF search engine & platform for GIF artists & GIF-lovers and growing over 20X into the 10s of millions of users in less than 24 months.

Working with breakout TV hits, blockbuster films, global apps like LINE, world class publishers like Vox Media and all the biggest celebs and bands to create and distribute GIFs, GIPHY is establishing GIFs as a standard unit of communication. Even the President is apparently turning to GIPHY for his GIF needs.

Our fast-paced digital culture has created the need for media that is both effective and efficient, in line with the way people consume and share content today. As the atomic unit of entertainment, GIFs are a new style of communication fundamental to this new media environment. People are moving past plain text and emojis to express themselves; they're talking in GIFs.

GIFs are quickly becoming an intrinsic part of the way people communicate today and GIPHY has emerged as the definitive source for GIFs.  The leading apps, platforms, and messengers are harnessing the entertainment value of GIFs to amplify their core experience by integrating the GIPHY API.  Slack's use of the GIPHY API, which translates users' words into GIFs, is already the single most used command across their entire ecosystem. Through this partnership and others like it, the GIPHY API is currently serving 3BN GIFs per month.

GIPHY's mission has always been to organize the world's GIFs, their creators, and fans. GIFs are the media type for a new Internet generation, its culture, its entertainment and, ultimately, its information. GIPHY's vision is to build a platform to organize all of this new information as GIFs.

GIPHY Quotes

"GIFs are a dynamic form of media built for the Internet generation; they add context and entertainment to static information," said Alex Chung, GIPHY CEO.

"We believe GIFs are foundational to the future of communication and GIPHY is creating the comprehensive framework for this new cultural vocabulary."

"We are excited and grateful to have the Lightspeed and General Catalyst teams join us as partners in building our vision for the future of the GIF," continued Chung. "Their experience, support, and belief in the GIF and the team at GIPHY has been truly amazing.  We can't wait to show you what we're planning for 2015."

"Why say it with words, when a GIF just keeps on giving?" said Adam Leibsohn of GIPHY. "There's, 'Thank you,' and then there's… There's, 'I f&%cked,' up and then there's… Words are good," said GIPHY's Adam Leibsohn. "But GIFs are gooder… Wait… GIFs are gre… No wait, hold on, GIFs are…"

LIGHTSPEED Quote

"The GIF is the new emoji. The Snapchat and Tinder generation know that you can say so much more with a GIF of two adorable kittens kissing than simply texting 'Happy Valentines Day' or even "I❤U". GIPHY knows it, too; and, that's why they are the runaway leaders in this space," said Jeremy Liew of Lightspeed Venture Partners.

GENERAL CATALYST Quote

"GIF as a media type is finally becoming ubiquitous," said Hemant Taneja of General Catalyst. "GIPHY has the opportunity to be the platform for everyone to create, store and discover gifs. We are thrilled to work with the team as they expand their footprint and grow the company."

ABOUT GIPHY

GIPHY is the world's first and largest GIF search engine. GIPHY is how you search, share, discover and create GIFs. Founded in 2013, GIPHY works with social networks, mobile apps, technology platforms and content creators to help organize and distribute the world's GIFs. GIPHY is headquartered in New York and backed by Lightspeed Venture Partners, General Catalyst, Betaworks, RRE Ventures, Lerer Hippeau Ventures and CAA Ventures. Learn more at giphy.com.

Media Contacts:
Adam Leibsohn, Giphy
Email: [email protected]
Phone: 816.645.8166

Kelly Mayes, Lightspeed Venture Partners
Email: [email protected]
Phone: 415.297.4787

Katja Gagen, General Catalyst Partners
Email: [email protected]
Phone: 415.690.6689

SOURCE GIPHY, Inc.

Related Links

http://giphy.com