Photo-sharing app BeReal is getting acquired for €500 million

French mobile app and game developer Voodoo has acquired the popular photo-sharing platform BeReal for €500 million (around $537 million). The deal comes as BeReal has been struggling to maintain its rapid growth and was exploring additional funding or a potential sale.
As part of the acquisition, BeReal co-founder and CEO Alexis Barreyat will step down from his role, with Aymeric Roffé, CEO of Voodoo's social app Wizz, set to take over.Voodoo plans to leverage its experience in building and growing mobile products to help BeReal innovate and refocus on user growth through organic and paid marketing across key markets.
BeReal, launched in 2020, gained significant popularity during the pandemic, amassing over 40 million monthly active users. The app prompts users to share unedited photos within a two-minute window each day, fostering a sense of authenticity and connection. Despite its early success, BeReal's growth has plateaued in recent months, with monthly active users dropping from 15 million in October 2022 to 6 million in March 2023.
To remain relevant, BeReal has introduced new features such as private groups, the ability to post more than once per day, and a "RealPeople" feed showcasing posts from celebrities and brands. However, these additions have somewhat deviated from the app's original purpose.
Voodoo believes that BeReal's engaged user base, with half of its users in the United States, Japan, and France using the app at least six days a week, presents a significant opportunity for expansion and monetization. The company plans to introduce paid advertising to the platform in a way that maintains a seamless user experience, aiming to strike a balance between monetization and product development.