Quick take:
The acquisition is part of Voodoo’s strategy of diversifying into consumer-focused apps.
Voodoo boasts 7 billion downloads worldwide, while BeReal has a user base of 40 million, according to the announcement.
Voodoo also plans to further invest in BeReal while providing its expertise in product strategy, growth, and infrastructure.
Voodoo, the mobile games publisher for both non-crypto games and blockchain games has announced the acquisition of authenticity-focused gen-z social media platform BeReal at a valuation of €500 million.
The two companies will look to leverage synergies from the acquisition with Vodoo taking advantage of BeReal’s global user base of 40 million 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 that the acquisition further accelerates its diversification campaign into consumer apps.
“Together, Voodoo and BeReal will be ideally positioned to deliver on BeReal’s potential and unlock synergies afforded by the platform’s significant global user base. Voodoo intends to further invest in BeReal while providing 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 games to mobile.
“BeReal achieved incredible user loyalty and growth, showing there is a universal need to share real, unfiltered experiences with close friends,” said Alexandre Yazdi, Voodoo co-founder and CEO. “We are very excited to bring our teams together and leverage Voodoo’s know-how and differentiated technologies to scale BeReal into the iconic social network for authenticity.”
BeReal allows users to post short (2-minute) real-time videos of what they are doing every day at the time they receive a push notification. The platform has become popular with Gen Z. Photos posted disappear within 24 hours and there are no follow and like features.
The company sees its acquisition by Voodoo as the beginning of a new growth chapter.
“Voodoo has a proven track record of driving significant growth in mobile apps. Their resources and expertise will help bring BeReal on a sustainable growth path while continuing to deliver on its mission to create an authentic world that keeps you connected with the people you really care about,” said Alexis Barreyat, BeReal founder and CEO.
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The post Web3 Mobile Games Publisher Voodoo Acquires BeReal at €500M Valuation appeared first on NFTgators .