BeReal, a social media app that allows users to share photos with friends without the need to edit pictures, has sold its business to Voodoo, a French company known for developing apps and games, in a deal worth 500 million euros. Founded in 2020, BeReal gained recognition in 2022 with its feature of posting photos at random times, but the trend quickly faded. Despite having over 20 million users in 2023, the numbers dwindled, and attempts to introduce new features failed to attract users as before.
In March, there were reports of BeReal facing funding challenges for a new round, with some investors suggesting a sale of the business. This led to the deal with Voodoo. Alexis Barreyat, the CEO and co-founder of BeReal, will step down from his position after the completion of the business sale, and will remain on board for a transitional period.
Source: The Verge
TLDR: BeReal, a social media app, sold its business to Voodoo for 500 million euros after facing funding challenges and declining user numbers. CEO Alexis Barreyat will step down post-sale.
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