BeReal raised $60M in its Series B earlier this year, now has 20M DAUs • TechCrunch
BeReal photo-sharing app has been a huge hit with Generation Z and beyond. Now with other big social apps rushing to reproduce some of the no-frills spirit, I’ve gathered a war chest to work on in the next chapter. TechCrunch has learned that the startup closed a $60 million round earlier this year. The funding comes in the form of a Series B and BeReal is valued in Paris, France at a valuation of north of €600 million – which is just under $587 million at today’s exchange rates.
(Exchange rates are tough at the moment, the dollar is strong against other currencies in the face of global economic turmoil. When information was first published on some details of this round, it indicated a pre-valuation of about $600 million. The volume of the round had not been previously reported.)
One source tells us that the company now has about 20 million DAUs. As a point of reference, the information indicated that the app had 7.9 million users as of July this year. The numbers seem to suggest that despite efforts by rival social apps to reproduce the essence of the BeReal experience – a set of two images taken from the user’s front and back phone cameras, to be shared with friends at the same time every day – nothing like the real thing, if it may. expression.
The numbers are still only a small fraction of the users attracted by the world’s largest social apps, but BeReal’s speed of growth, and its appeal with key youth demographics, have been strong fillers for those other apps to pay attention to how. They can bring the same kind of experience to their own platforms. Others who have cloned the app include tik tokAnd the InstagramAnd the snap chat. (We do not include FrontBack which is now no longer on the list.)
Founded in 2019 by former GoPro employee Alexis Barreyat along with Kévin Perreau, BeReal took off in earnest earlier this year, as its Gen Z user base Submit the app climbing the App Store charts.
In April, application intelligence company Apptopia mentioned BeReal has increased installs by 315% year-to-date. BeReal itself is easy to use: once a day, it sends users a notification encouraging them to take a double photo, or “BeReal” – a combination of a selfie and a front photo, taken simultaneously. This experience aims to provide its users with a more reliable feed of images compared to the curated aesthetic found on Instagram. And the images themselves disappear after 24 hours.
The app’s appeal has attracted a group of investors, culminating in $30 million Series Aled by Andreessen Horowitz and Axel in June 2021.
When the information in Series B was reported earlier this year, it was said to value the app at $100 per daily active user.
As described to us by one of our sources, yes, the consumer app world has had plenty of examples of early fading juggernauts (sad waves to YiyakAnd the PeacheAnd the yo and the rest). But in relative terms, BeReal’s rapid growth and how it appears to be attracting attention among a certain group of users makes it an interesting bet at this point.
It also came at a time when the app had reached mainstream consciousness – as evidenced by the fact that it was SNL skit theme in October.
The big question now is how BeReal plans to use the funding and what its next steps might be to develop its product.
The app today does not have a business model, although the Financial Times said it might consider subscriptions. data Introduction by Sensor Tower This month also discovered that despite having about 53 million lifetime installs, only 9% of BeReal users on Android open the app daily. This doesn’t correlate with real-world use, though, because more of BeReal’s core user base—the younger generation Z users in the US—tend to use iPhones.