First it was emojis, next it could be GIFs taking centre stage, after Giphy, a GIF-based search engine announced it has raised an impressive $72m in a Series D funding round to build out its platform. Off the back of the funding, the WSJ  said the company is now valued at $600m.

The investment was led by Draper Fisher Jurvetson (DFJ), with participation from Institutional Venture Partners, CMC Capital and existing investors. Barry Schuler, DFJ growth partner and GIPHY board member said: “The Internet is sizzling with GIFs these days because it is the perfect format for snappy expression. Giphy with its full stack approach from search to authoring tools to direct integration with messaging apps has made it really easy and fun for consumers to engage. It’s no wonder their usage and engagement numbers are exploding.”

Giphy aims to make it easier to find GIFs on the web. In addition to its search engine, the Giphy platform also enables content owners to make their own GIFs. At this point in time it offers the platform for free, building its audience with a view to monetising it in the future.