Generative AI

GIF Giving: Meta Sells Giphy to Shutterstock

Meta has entered into an agreement with Shutterstock to sell Giphy for $53 million. It acquired the GIF engine in 2020 for $400 million, meaning that it will recoup about 13 percent of the original investment. That’s a big write-down but there’s more to it. 

creator economy

Instagram Advances Its Creator-Economy Play

The creator economy continues to emerge as a subset of the SMB universe. Instagram has recently advanced this segment with its creator marketplace API that lets creators and brands find each other.

Generative AI

Meta and Snap Jump on the AI Chat Wagon

Snap and Meta both announced AI-fueled chat features this week. For Meta, that takes place within WhatsApp and Messenger. For Snap, it involves a new chatbot altogether. We dive into both.

hyperlocal

Meta Walks Back Hyperlocal Efforts

Meta’s hyperlocal play, Facebook Neighborhoods, recently took a step back. It was meant to be Facebook’s answer to NextDoor but it turned out to be too onerous and unfocused, so Meta is pulling the plug on October 1.