In 2020, Meta announced that it would acquire Giphy, the world’s most popular GIF platform, for $400 million. Although Meta is officially Giphy . has taken over United Kingdomrequested a refund of the purchase. The reason for this is UK Competition and Markets Authority (CMA) does not see the acquisition as competitive.

In August 2021, the CMA decided last year that Meta must sell the Giphy. After this decision, Meta also appealed. UK on June 14 Competition Courts The new decision shared by Meta dealt Meta another heavy blow.

Meta’s appeal was largely unsuccessful

All but one meta of grounds of appeal in the court published decision unanimously rejected† However, the court said the CMA acted “rationally” in its decision to sell Meta Giphy. With this decision, Meta had a hard time keeping Giphy in.

On the other hand, Meta’s latest asset shows that the company has not completely lost this process. In one of the six grievances advanced by Meta, the CMA ‘about a year after we were notified of the decisionHe argued that Snapchat did not properly inform Meta about the acquisition of Gfycat. The court maintained this reasoning. In the coming weeks, he will discuss with Meta and CMA how this error can be solved.