The reason why Facebook bought Giphy is not the Gifs themselves, it's the data. So I would say the privacy of search data and context would be the number one concern for anyone. It's pretty hard to find the balance between privacy, trending content, and relatable content, but it's for you to tune the knobs.
Also, if you release the API, I'd say making it a drop-in replacement for Giphy would increase the adoption. S3-compatible storage options, or Fixer-compatible APIs, etc are examples and they can help reduce the friction.
Yeah, privacy for us has always been #1. It means we will need to monetise, but all indications are that teams are willing to pay a small amount for that privacy. We have the benefit of not wanting to get rich.
Also, if you release the API, I'd say making it a drop-in replacement for Giphy would increase the adoption. S3-compatible storage options, or Fixer-compatible APIs, etc are examples and they can help reduce the friction.