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Voodoo Acquires BeReal for €500M; CEO Alexis Barreyat to Exit

Jun 11, 2024, 04:31 PM

French mobile app and gaming company Voodoo has acquired BeReal, a social media app known for its fleeting photo sharing feature, for €500 million. As part of the acquisition, BeReal co-founder and CEO Alexis Barreyat will leave the company after a transition period. BeReal, which was launched nearly a decade ago and became a cultural phenomenon, has seen a decline in downloads from 35 million in Q3 2022 to 5 million in Q1 2024. Despite this, the app maintains almost 20 million daily active users. The acquisition is expected to help BeReal build new features and kick-start growth again. BeReal had previously raised $90 million in funding. The new owner plans to roll out paid advertising, and the acquisition cost is approximately €13 per user.