How many people use a GIF when they send a message to a friend or family member? I must admit that I, when chatting with friends on the social message app GroupMe, use funny GIFs every chance I get.
Now, although, we know GIFs are fun and addicting, can GIFs generate revenue or become a central piece to a company’s business model?
According to David McIntosh, CEO of the company Tenor, which offers a universal GIF keyboard, GIFs are real business.
While the valuation of his company may be high, Tenor along with competitor Giphy isn’t generating revenue. But McIntosh isn’t worried. The reason behind his fearlessness is his vision and hopes that his company can evolve similar to Google. The great folks from Recode spoke with McIntosh and received some insight into his plan. ““[We want to] give brands this emotional dimension of targeting. How do you reach people at a particularly emotional state? When they’re feeling something, or when they’re hungry?”
Now you may think McIntosh and his followers may be far fetched with their vision but investors think otherwise. As of today, Tenor has raised more than $13 million from venture capital investors and Giphy has raised a whopping $150 million. So, maybe, just maybe GIFs will soon be considered a real business.