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Giphy Nabs $17 Million to Expand Massive GIF Database

Giphy, the popular database used to search and store GIFs online, has raised $17 million in new funding. The round was led by Lightspeed Venture Partners, and included new investor General Catalyst as well as a number of existing investors. This follows hot on the heels of Imgur’s newly-launched GIF tool. Giphy, which claims an audience of “tens of millions,” plans to use the money to grow its user base and its workforce. The company has raised $20.5 million since launching almost two years ago.

This article originally appeared on Recode.net.

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