BeReal obtains $60 million in Series B financing round.

BeReal obtains $60 million in Series B financing round.

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BeReal, the sought-after photo-sharing app, recently garnered $60 million in a Series B funding round, putting its worth at €600 million and its value per daily active user at $100. This follows their June 2021 Series A funding of $30 million. What’s the talk about this app?

BeReal, the well-known photo-sharing app, recently secured $60 million in Series B investment, pushing its valuation to €600 million and its value per daily active user to $100. This follows the Series A funding of $30 million in June 2021. What is the talk about this app?

The source of BeReal’s success

For a couple of years the app has existed, yet Apptopia reports that 65% of its lifetime downloads happened this year. France and US have the most installs, making up 20.5% and 19.7% respectively.

The app’s accomplishments can be credited to its college rep program, verbal publicity, and features and widgets. The program is a remunerative advertising campaign in which representatives are paid for promoting the app by distributing pizza slices in exchange for downloads. The cost per download is between $6-$8.

Installing drives requires monetization.

As installs rise, investors will likely take a closer look at the app’s plans for producing income. Currently, BeReal says it intends to bypass ads and concentrate on premium services to keep from mirroring Instagram. Paid-for amenities won’t be offered until 2023. Nevertheless, it’s improbable the app will totally reject advertising.