Giphy's Alex Chung Says Words Are Optional | Summary and Q&A

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May 9, 2016
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Giphy's Alex Chung Says Words Are Optional

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Summary

This video features a conversation with the co-founder of GIPHY, the popular search engine for GIFs. They discuss the rise in popularity of GIFs and the reason why the demand for GIFs has grown exponentially in recent years. They also touch upon topics such as competition in the GIF market, the acquisition of gift grabber, GIPHY's revenue plan, and the potential for advertising within mobile messaging. The conversation concludes with a discussion about the pronunciation of GIF.

Questions & Answers

Q: Why are publishers and platforms so excited about GIFs?

The popularity of GIFs has grown significantly because the technology is now available to easily share and create them. GIFs have always been a part of human culture and people are now able to share these moments and express themselves through GIFs.

Q: What competition does GIPHY face in the GIF market?

While GIPHY is the largest GIF search engine, there are other players in the market such as Imageriff, SEE, and even Google. However, GIPHY aims to work with everyone in the industry and believes there is room for everyone to be a part of the GIF space.

Q: What is GIPHY's revenue plan?

Currently, GIPHY is focused on accelerating its growth and expanding its user base. However, they have plans to monetize their platform through various revenue models, including mobile messaging ads and charging for content distribution. They also see potential in serving branded GIFs and advertising within the GIF search experience.

Q: How does GIPHY create and distribute GIFs for live events like the Oscars?

GIPHY has deals with major events like the Oscars and their team of editors creates GIFs in real-time as the event is happening. They work closely with their partners to curate and distribute the content. GIPHY aims to be the creators and curators of live event GIFs.

Q: What is the biggest vertical in terms of live gifting?

Currently, the biggest vertical for live gifting is pop culture. GIPHY sees a lot of demand for GIFs related to award shows, TV shows, movies, and celebrities. About 80% of the content seen on GIPHY is related to pop culture.

Q: What information does GIPHY have about its users for targeting ads?

GIPHY receives information about where GIFs are being viewed and shared, allowing them to track demographics and search patterns. While they don't currently use this information for targeting ads, they see the potential to serve better advertising in the future based on this data.

Q: Why did it take GIPHY two and a half years to launch their own keyboard app?

GIPHY had previously built five different versions of a keyboard app but none of them felt right. They wanted to create a minimalist and seamless keyboard experience, and they had to wait for the right timing and ecosystem to launch their app. GIPHY also believes in supporting the entire keyboard ecosystem and working with other partners to create branded keyboards.

Q: How does GIPHY pronounce GIF?

GIPHY officially supports both pronunciations, but they prefer GIF over JIF. They believe the term "GIF" represents a new generation of content and content producers, while "JIF" is seen as an old and nostalgic term.

Takeaways

GIFs have become immensely popular due to advancements in technology that have made it easier to share and create them. GIPHY, as the largest GIF search engine, aims to work with everyone in the industry and believes there is room for multiple players in the GIF space. They plan to monetize their platform through various revenue models, including mobile messaging ads and branded GIFs. GIPHY has deals with major events and curates live event GIFs. The biggest vertical for live gifting is currently pop culture. GIPHY's keyboard app, GIPHY Keys, was launched after several iterations and aims to provide a minimalist and seamless experience for users. The pronunciation of GIF varies, but GIPHY prefers GIF over JIF, believing it represents a new generation of content and expression.

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