BeReal: From Simple Social Network to Lucrative Acquisition
In a surprising turn of events, the self-proclaimed “Gen Z social network,” BeReal, has been acquired by Voodoo for a staggering €500 million (approximately $541 million). Voodoo, primarily known as a publisher of mobile games, has diversified its portfolio with apps like Wemoms, a social network for mothers. However, BeReal is undoubtedly the most noteworthy addition to their collection.
The acquisition comes with a change in leadership, as BeReal CEO and co-founder Alexis Barreyat will oversee the transition to new management before departing from the company. While it remains uncertain whether this deal will result in any layoffs, it is clear that BeReal’s value has not gone unnoticed.
For those unfamiliar with BeReal, the social network gained immense popularity over the past few years due to its simplicity. Users were prompted once a day to take and post a photo of their current activity within a two-minute window. Although the platform has evolved over time, allowing users to post more frequently, its initial straightforward premise attracted a dedicated user base. Voodoo claims that BeReal boasts over 40 million active users.
However, this acquisition does not come as a surprise. BeReal’s popularity began to decline as early as a year and a half ago. Recent reports even suggested that the social network was on the verge of running out of funds within a year if it did not find a lifeline.
The purchase of BeReal by Voodoo highlights the potential value of simple yet engaging social networking platforms. As the digital landscape continues to evolve and user preferences change, staying relevant and financially sustainable becomes increasingly challenging for social media platforms. This acquisition serves as a reminder that even seemingly disposable content can hold significant value for the right buyer.
Furthermore, this acquisition showcases Voodoo’s strategic moves to expand its presence beyond mobile gaming. With the addition of BeReal to its portfolio, Voodoo is diversifying into the realm of social networking, targeting a younger demographic. This expansion aligns with Voodoo’s aim to cater to the evolving needs and interests of its user base.
As BeReal embarks on this new chapter under Voodoo’s ownership, it remains to be seen how the social network will evolve and adapt to the changing digital landscape. However, one thing is certain – the once “totally disposable” photos on BeReal have proven to be worth a fortune to someone, demonstrating the power and potential hidden within seemingly fleeting moments captured in a photograph.
