It’s time to BeAcquired for €500 million

BeReal, the app identified for its fleeting photograph sharing window, has been acquired. On Tuesday, the French app developer Voodoo introduced that it bought the corporate for €500 million (about $537.23 million).

Launched by French builders Alexis Barreyat and Kévin Perreau in 2020, BeReal began gaining traction in 2022 when extra customers began partaking within the random, once-per-day alternative to share photographs with associates. However the hype surrounding BeReal rapidly died down. Final yr, a report from Platformer revealed the app suffered a steep drop in month-to-month energetic customers, going from 15 million in October 2022 to six million in March 2023 as folks turned much less enamored with the idea.

Indicators of hassle at BeReal emerged earlier this yr. In March, sources advised Enterprise Insider that the app’s progress had plateaued, whereas firm leaders started exploring further rounds of funding or a attainable sale. Voodoo claims BeReal presently has greater than 40 million month-to-month energetic customers, half of whom use the app a minimum of six days per week. Voodoo says its acquisition will give BeReal “the chance to additional innovate round new options and refocus on progress.”

BeReal founder and CEO Barreyat can also be stepping down and might be changed by Aymeric Roffé, the CEO of the Voodoo-owned social app Wizz.