Nfts
Mobile game publisher Web3 Voodoo acquires BeReal for a valuation of 500 million euros
Quick take:
- The acquisition is part of Voodoo’s strategy to diversify into consumer-focused applications.
- Voodoo has 7 billion downloads worldwide, while BeReal has 40 million users, according to the announcement.
- Voodoo also plans to further invest in BeReal while bringing its expertise in product strategy, growth and infrastructure.
Voodoo, the mobile game publisher for non-crypto games and blockchain games has announcement the acquisition of authenticity-focused Gen-Z social media platform BeReal for a valuation of €500 million.
Both companies will look to leverage synergies from the acquisition, with Vodoo leveraging BeReal’s global user base of 40 million users to further expand its reach. On the other hand, BeReal will integrate the technologies provided by Voodoo to further enrich the experiences of its users.
Voodoo said the acquisition further accelerates its drive to diversify into consumer applications.
“Together, Voodoo and BeReal will be ideally positioned to leverage BeReal’s potential and unlock the synergies offered by the platform’s significant global user base. Voodoo intends to further invest in BeReal while bringing its expertise in product strategy, growth and infrastructure.
Voodoo offers a variety of products to game developers, including financing and technology support. According to its website, its platform helps creators bridge both Web3 games and traditional mobile games.
“BeReal has achieved incredible user retention and growth, demonstrating that there is a universal need to share real, unfiltered experiences with close friends,” said Alexandre Yazdi, co-founder and CEO of Voodoo. “We are very excited to bring our teams together and leverage Voodoo’s know-how and differentiated technologies to make BeReal the iconic social network for authenticity.
BeReal allows users to post short (2 minutes) real-time videos of what they do each day at the moment they receive a push notification. The platform has become popular with Generation Z. Posted photos disappear within 24 hours and there are no follow and like features.
The company views its acquisition by Voodoo as the start of a new chapter of growth.
“Voodoo has a proven track record of driving significant growth in mobile apps. Their resources and expertise will help BeReal on its path to sustainable growth while continuing to fulfill its mission of creating an authentic world that keeps you connected with the people you truly care about,” said Alexis Barreyat, Founder and CEO of BeReal.
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