BeReal is in real trouble.
According to Business Insider, employees were told at an all-hands meeting in February that the app had about ten months left before funding ran out. Although BeReal has a relatively low headcount of 60 employees, its server costs are high. Now, leadership is working to make the app attractive to investors.
BeReal is back with its latest attempt at Be Relevant
BeReal’s unique instant photo sharing feature turned it into a cultural phenomenon during the height of the COVID-19 pandemic. The company has been called the “anti-Instagram” and will be valued at $600 million in 2022 after raising $90 million in financing in the same year. But since then, the app’s growth has slowed, even after attempts to diversify its appeal by adding new features in 2023.
BeReal currently has 40 million monthly active users and 25 million daily active users, up from 20 million in 2022, according to internal metrics shared by Business Insider. But the growth has not been impressive in the eyes of investors and the company is struggling to drum up interest in funding, sources said. Leadership also told employees that “we are in discussions with some of the largest technology companies in the world” about potential acquisitions. But if a solution doesn’t come soon, BeReal may be destined to disappear — just like the photos on the app.
