BY Henry Chandonnet2 minute read BeReal's days of social media dominance are long gone. The app, which offers randomized daily two-minute timers prompting users to snap a quick picture of what they're up to, counted 23 million active users in January 2024—a steep drop from 73.5 million in August 2022.
And while brands like Chipotle and e.l.f.
Beauty were once joining BeReal in hopes of luring new customers, they've largely since abandoned the app, spurned by its lack of product linkage and sponsorship opportunities. But earlier this month French video game developer Voodoo acquired the app for more than $535 million, giving it a fresh jolt of life. For everything that's gone wrong at BeReal, with brands fleeing and users dwindling, apparently there were some factors that made it a prime investment opportunity.
The app maintained its name recognition, as well as its mission to be an organic, person-to-person form of social media. Better yet, it made little attempt at turning a profit, providing ample room for growth. "Monetizing was never really a big focus of BeReal," says Debra Aho Williamson, chief.
.. Henry Chandonnet.
