The time has come to be acquired for 500 million euros

BeReal, the app known for its fleeting photo-sharing window, has been acquired. On Tuesday, French app developer Voodoo announced that it purchased the company for 500 million euros (about US$537.23 million).

Launched by French developers Alexis Barreyat and Kévin Perreau in 2020, BeReal began to gain traction in 2022 when more users began participating in the random, once-a-day opportunity to share photos with friends. But the enthusiasm around BeReal quickly waned. Last year, a report from Platform revealed that the app suffered a sharp drop in monthly active users, from 15 million in October 2022 to 6 million in March 2023, as people became less enthusiastic about the concept.

Signs of trouble at BeReal emerged earlier this year. In March, sources said Business Insider that the app’s growth had stagnated, while company leaders began exploring additional rounds of financing or a possible sale. Voodoo claims that BeReal currently has more than 40 million monthly active users, half of whom use the app at least six days a week. Voodoo says its acquisition will give BeReal “the opportunity to further innovate around new features and refocus on growth.”

BeReal founder and CEO Barreyat is also stepping down and will be replaced by Aymeric Roffé, CEO of Voodoo-owned social app Wizz.