But that's just users viewing content there, not interacting with the site at all. I'm sure imageshack had those numbers, easily. Until something better (read not monetized) came along to replace it for a while.
You might be right. I've never thought of giphy as just an image hosting platform though. It's more about the integrations with apps that is their edge. Something imageshack/imgur never really nailed.
But I think there are variations on this that work/make money.
`/giphy football` could return some relevant superbowl sponsored gif as one of the first N gifs. Kinda like how google gives you 3 "relevant" ads before showing you the actual search content. Start subtle, get more and more brash as time goes and people won't notice. I guess making it work without people leaving is the $600M question.