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TL;DR: They want to make their own business look unsuccessful, so that competition watchdogs allow the acquisition from Facebook.
And to further discredit that statement: I feel like GIFs are the closest the ‘old’ internet has to offer for what the young generation wants. There’s tons of GIFs being exported from TikTok every day.
Ironically from Giphy
What a load of bull, i’m gen Z and i use gifs extremely frequently within chatting apps