BeReal, the French application that wants to recover Snapchat and Instagram users, is not about to stop expanding its model across countries. Where some thought its growth was slowing, the Paris-based startup reportedly took advantage of the summer to double in size. Since July, BeReal has grown from 7.9 million users to over 20 million. In early 2021, only 10,000 downloaded the app.
A source close to the matter spoke with our brothers and sisters about Tech Crunch to tell them that a fundraiser had taken place earlier in the year. Secret, it has never been announced by BeReal, which certainly wishes to remain discreet in a market where the competition is ready to do anything to steal trendy social network models. We saw it a year ago with Clubhouse.
BeReal thus raised 60 million dollars during a series B to reach a valuation of 600 million euros. The numbers are mind-boggling, as the app was born in 2019. That said, the app still shows no signs of money coming in from its users. Neither advertising nor subscription is available. BeReal is therefore still entirely dependent on its investors. Moreover, rumors had been predicting for several months that the French startup would raise more than half a billion dollars, which no longer seems to be the case now.
Its attraction is particularly important in the United States. In early October, Saturday Night Live broadcast on NBC even unveiled a promotional video, which now has more than 855,000 views on Twitter alone. What to discover the principle of the platform under the angle of an action film.
— Saturday Night Live – SNL (@nbcsnl) October 2, 2022
Famous names arrive in the capital of BeReal
To cross this “valley of death”, as startups tend to call it, BeReal can count on renowned investors. We learn that A16z fund Andreessen Horowitz participated in the round again after a $30 million Series A round in June 2021. Accel and Kima complete the deal. Accel Partners, based in Palo Alto, California, has already invested in BlaBlaCar, Doctolib, PayFit, Lydia and Sorare in France, but also DJI, Trade Republic, Vinted and Discord internationally.
BeReal did not react to the publication of these revelations. Now all eyes are on its investment strategy. The application recently made it clear to us that it does not want to introduce the notion of influence and popularity, not seeking to invite stars to join the social network. Currently, the model is geared towards very personal use, where users are motivated to share one photo per day to their inner circle only. This summer, lemon squeezer had left Instagram for BeReal for three months, in order to give you an opinion on the social network.