BeReal, the photo-sharing app, has been a huge hit with Gen Z and beyond. Now with other big social apps rushing to clone some of its no-frills ethos, it’s put together a war chest to work on its next chapter. TechCrunch has learned that the startup closed a round of $60 million earlier this year. The funding is coming in the form of a Series B and it values Paris, France–based BeReal at a valuation north of €600 million — which at today’s exchange rates is just under $587 million.
(Exchange rates are tricky right now; the dollar is strong against other currencies in the face of global economic turmoil. When the Information first reported on some of the details of this round, it noted the premoney valuation of around $600 million. The size of the round had not previously been reported.)
A source tells us that the company now has around 20 million DAUs. As a point of reference, the Information noted that the app had 7.9 million users as of July of this year. The numbers appear to indicate that despite efforts from competing social apps to reproduce the core of the BeReal experience — a two-photo set taken from a user’s front and back phone cameras, to be shared with friends at the same time each day — it ain’t nothing like the real thing, so to speak.
When the Information reported on the Series B earlier this year, it was said to be valuing the app at $100 per daily active user.
The big question now is how BeReal plans to use the funding and what its next moves might be to evolve its product.
Sources: BeReal raised $60M in its Series B earlier this year, now has 20M DAUs by Sarah Perez originally published on TechCrunch