Imgur, Photobucket and Animoto aren't comparable to Giphy. They're targeting different things. That would be like comparing Youtube to LinkedIn. Both social websites but ultimately have different goals/aims.
What makes Giphy special is the content/user moat that it has.
Anyone can easily create a Giphy website and search engine. You can most probably buy a Wordpress theme for $20 to do it. You can not easily-replicate what Giphy has achieved in regards to content moat and user numbers. I wouldn't call 2 other businesses in the same industry, healthy competition.
What makes Giphy special is the content/user moat that it has.
Anyone can easily create a Giphy website and search engine. You can most probably buy a Wordpress theme for $20 to do it. You can not easily-replicate what Giphy has achieved in regards to content moat and user numbers. I wouldn't call 2 other businesses in the same industry, healthy competition.