London: The UK Competition and Markets Authority (CMA) ordered Facebook's parent company Meta to sell online database and search engine Giphy on Tuesday, citing concerns that the $315 million deal would affect social network users and marketers in the UK.

In May 2020, Facebook made the decision to purchase the online GIF platform.

The UK anti-trust commission has determined that Facebook's acquisition of Giphy will decrease competition amongst social media platforms and has already eliminated Giphy as a prospective contender in the display advertising sector.

"The Facebook-Giphy partnership has already eliminated a prospective competitor in the display advertising sector. It will also allow Facebook to further strengthen its substantial market position in social media by blocking competitors' access to Giphy GIFs if no action is taken "Stuart McIntosh, the independent inquiry group's Chair, stated.  In a statement, he added, "By compelling Facebook to sell Giphy, we are protecting millions of social media users while also fostering competition and innovation in digital advertising." In order to access Giphy GIFs, the social network will adjust the conditions of access by forcing TikTok, Twitter, and Snapchat to disclose additional user data.

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