More

    BeReal acquired by mobile apps and games publisher Voodoo for €500 million

    French mobile game publisher Voodoo announced on Tuesday it has acquired BeReal, the social media app known for its focus on unfiltered, daily photo sharing. The acquisition, worth €500 million (approximately $537 million), marks a significant investment by Voodoo into the consumer app space.

    “BeReal achieved incredible user loyalty and growth, showing there is a universal need to share real, unfiltered experiences with close friends,” said Alexandre Yazdi, Voodoo co-founder and chief executive officer. “We are very excited to bring our teams together and leverage Voodoo’s know-how and differentiated technologies to scale BeReal into the iconic social network for authenticity.”

    Alexis Barreyat, BeReal’s founder and chief executive officer, will step down after a transition period. Aymeric Roffé, currently leading Voodoo’s social media app Wizz, will take over the reins at the social media company. Investment bank J.P. Morgan Securities plc served as an exclusive advisor to BeReal’s shareholders throughout the acquisition process.

    BeReal, founded in 2019, rose to prominence in 2022 with its unique concept. Users receive a daily notification prompting them to capture and share a photo of their surroundings within a two-minute window. This emphasis on real-time experiences, coupled with the absence of features like likes and follower counts, resonated with Gen Z users seeking a more genuine social media experience.

    However, BeReal’s initial growth spurt plateaued months after. While the app boasts over 40 million active users, primarily concentrated in the US, Japan, and France, it faced challenges in attracting and retaining new users. This likely fueled the company’s exploration of funding options or a potential acquisition.

    Enter Voodoo, a global leader in mobile apps with a track record of driving significant growth. Voodoo, boasting over seven billion downloads, plans to leverage its expertise in product development, marketing (both organic and paid), and infrastructure to empower BeReal’s future iterations. While photo-sharing app also experimented with features like groups and additional daily posts, it will be interesting to see how Voodoo balances the app’s core concept of daily, unfiltered snapshots with potential new features that could drive user engagement and growth.

    Author

    author avatar
    Monika Asthana

    LATEST ARTICLES

    RELATED ARTICLES

    LEAVE A COMMENT

    Please enter your comment!
    Please enter your name here

    spot_img