BeReal Acquisition, Valuation, Funding & Investors
BeReal was acquired by Voodoo for $540M in June 2024.
Cumulative funding BeReal raised
$90M
across 2 funding rounds
Key investors in BeReal
DST Global
Accel
Andreessen Horowitz
Coatue
About BeReal
BeReal is a Paris-headquartered social media application launched in 2020 that prompts users daily at a random time to capture and share unfiltered front and back camera photos within two minutes. Designed to promote authenticity, the platform limits editing and filters, fostering genuine daily life moments among friends. By 2023, BeReal expanded to Android and iOS in over 180 countries with features like Discovery for public posts and RealMoji reactions.
Founded
2020
HQ
ParisWebsite
Status
Acquired
Customer focus
B2C
Revenue model
Advertising
Valuation
$587M (Oct 2022)
Sectors
BeReal Acquisition
BeReal was acquired by Voodoo for $540M on 11 June 2024.
Before the acquisition BeReal had raised $90M across 2 funding rounds.
In June 2024, Voodoo, a Paris-based mobile apps and games publisher with over 7 billion downloads and 150 million active users across its portfolio, acquired BeReal, a Gen Z-focused social networking platform, for €500 million in a cash and earnout deal. BeReal, founded in 2020 by Alexis Barreyat, connects close friends by sharing unfiltered daily moments through photos that disappear after 24 hours; the platform had approximately 40 million active users at acquisition, with strong penetration in the USA, Japan, and France. However, BeReal was struggling operationally—it had ceased user growth by late 2022, was losing $3 million monthly, and lacked monetization—making the acquisition strategic for Voodoo's diversification into social media while providing BeReal with Voodoo's infrastructure, product expertise, and growth capabilities. Voodoo structured the acquisition to support BeReal's recovery through product innovation, paid and organic marketing expansion, and operational scaling. Aymeric Roffé, CEO of Voodoo's social app Wizz, assumed BeReal's CEO role, while founder Alexis Barreyat transitioned out after a short-term involvement period to ensure integration continuity. The deal reflected Voodoo's broader strategy to leverage its decade of experience scaling mobile products like Helix Jump and Mob Control into the social networking sector, positioning BeReal as the authentic social network for the next generation.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 11 Jun 2024 | Strategic M&A | $540M |
BeReal Valuation
BeReal is currently valued at $587M, based on its Series B in October 2022.
The $60M round was led by DST Global, with participation from Coatue.
BeReal's valuation has grown 3.9x from $150M at its Series A in June 2021 to $587M in October 2022, across 2 priced rounds.
BeReal valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2022 | Series B | $587M |
| Jun 2021 | Series A | $150M |
BeReal Funding History
BeReal has raised a total of $90M across 2 funding rounds.
BeReal's first fundraising round was a $30M Series A in June 2021. The most recent completed round was a $60M Series B in October 2022.
BeReal funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2022 | Series B | DST Global (lead); Coatue | $60M | $587M | BeReal is a French photo-sharing social media app founded in 2020 by Alexis Barreyat and Kévin Perreau, prompting users to post unfiltered front-and-back camera photos daily at random times to promote authenticity among Gen Z users. It gained massive traction in 2022, reaching 20 million daily active users by October 2022, up from 7.9 million in July and 10 million in August, topping U.S. App Store charts and earning Apple's iPhone App of the Year. In May 2022, BeReal raised approximately $60-85 million in a Series B round led by DST Global with participation from Coatue Management, valuing the company at north of €600 million (around $587-600 million USD depending on exchange rates), quadrupling its prior $150 million valuation from a $30 million Series A in June 2021 led by Andreessen Horowitz and Accel. The round was reported in October 2022 by TechCrunch. BeReal emphasized an ad-free model and organic growth without marketing spend, exploring future monetization like in-app purchases amid competition from TikTok and Instagram clones. The app's valuation equated to about $100 per DAU at the time, higher than Snap or Pinterest but below Meta. BeReal was later acquired by Voodoo for $537 million in June 2024, slightly below the 2022 valuation peak, to leverage Voodoo's monetization expertise given BeReal's lack of significant revenue strategies despite its user base. |
| Jun 2021 | Series A | Accel (lead); Andreessen Horowitz (lead); DST Global | $30M | $150M | BeReal is a Paris-based photo-sharing app founded by Alexis Barreyat and Kévin Perreau that prompts users to post unfiltered, simultaneous front-and-back camera photos once daily at a random time, positioning itself as an authentic alternative to filtered social media platforms like Instagram. The app gained early traction in France, particularly Paris and Lyon, with daily active users climbing from below 50,000 in March 2021 to over 300,000 by May 2021. In June 2021, BeReal raised a $30 million Series A round co-led by Andreessen Horowitz (with partners Andrew Chen and Bryan Kim) and Accel (with partner Sonali De Rycker), with participation from DST Global, valuing the company at approximately $150 million post-money. This followed a seed round from European investors New Wave and Kima Ventures, after which the team expanded to seven employees to prepare for international expansion. The Series A funding came amid rising U.S. investor interest in consumer photo apps during what sources called 'hot vax summer,' with Andreessen Horowitz pushing aggressively to lead after the seed closed. Internal metrics showed strong growth potential despite a dip in monthly installs from 1.1 million in January 2020 to 138,000 in May 2021 per Sensor Tower, but DAUs were surging. The round positioned BeReal for global scaling, with investors like Chen and De Rycker committing to close involvement. Post-Series A, BeReal's growth accelerated dramatically, reaching 10 million DAUs by August 2022 and 20 million later that year, leading to a $60 million Series B at over €600 million (~$587 million) valuation. The app topped U.S. App Store charts, outpacing TikTok at times, amid Instagram copycats. No revenue model was in place by mid-2022, with considerations for paid features over ads. Later, BeReal was acquired by Voodoo for €500 million in a cash-and-earnout deal, with €166 million upfront, boasting 40 million active users across France, the US, and Japan. |
Who has invested in BeReal?
4 investors have backed BeReal across its funding rounds, including DST Global, Accel, Andreessen Horowitz and Coatue.
Lead investors include DST Global, Accel and Andreessen Horowitz.
BeReal Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 George Town | 2 | Lead | Jun 2021 | |
 San Francisco, CA | 1 | Lead | Jun 2021 | |
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Start Free TrialBeReal Competitors
BeReal competitors include listed companies like VNG Corp. and Hello Group, and private ones like Lens Protocol, Quora, Wunder.social and Medium.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
| George Town | Private | - | - | $500M | |
| San Francisco, CA | Private | $190M | - | $500M | |
 London | Private | - | - | $500M | |
| San Francisco, CA | Private | - | - | $600M | |
 Vietnam | Publicly listed | $420M | $23M | $657M | |
 China | Publicly listed | $1.5B | $215M | $704M |
BeReal Public Comps
BeReal is no longer listed, but its public comps include VNG Corp., Bumble, Hello Group, Dear U, Zhihu, Yalla Group, IBJ Inc., Sunfun Info, DouYu and Nextdoor.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $420M | $23M | 1.4x | - | 25.5x | - | |||
| $966M | ($793M) | 0.8x | 0.9x | (1.0x) | 2.9x | |||
| $1.5B | $215M | - | - | - | - | |||
| $61M | $16M | 3.0x | 2.8x | 11.4x | 6.7x | |||
| $410M | ($34M) | - | - | - | - | |||
| $342M | $128M | - | - | - | - | |||
| $130M | $27M | 1.8x | 1.4x | 8.9x | - | |||
| $83M | $15M | 1.3x | - | 7.3x | - | |||
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Common questions about BeReal
| When was BeReal founded? | BeReal was founded in 2020. |
| Where is BeReal headquartered? | BeReal is headquartered in Paris, France. |
| Is BeReal publicly listed? | No, BeReal was acquired by Voodoo in June 2024. |
| Who acquired BeReal? | BeReal was acquired by Voodoo in June 2024. |
| How much was BeReal acquired for? | BeReal was acquired for $540M in June 2024. |
| What is BeReal's valuation? | BeReal was last valued at $587M in its Series B in October 2022. |
| How much funding has BeReal raised? | BeReal has raised $90M across 2 funding rounds. |
| What was BeReal's last funding round? | BeReal's last funding round was a $60M Series B in October 2022, led by DST Global. |
| Who are BeReal's investors? | BeReal's investors include DST Global, Andreessen Horowitz, Coatue and Accel. |
| Which companies are comparable to BeReal? | Companies comparable to BeReal include Lens Protocol, Quora, Wunder.social, Medium, VNG Corp. and Hello Group. |
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