As social media gradually shifts away from filters and photo editing, the demand for authentic, unfiltered sharing has come into sharp focus. French platform BeReal, with its unique "real social" concept, has rapidly captured global attention. Now, this coveted social asset is set to welcome a new steward—hyper-casual gaming giant Voodoo.
On June 11, Voodoo CEO Alexandre Yazdi announced the company's €500 million acquisition of BeReal. The deal not only marks Voodoo's strategic expansion into social media but also accelerates its transformation from a hyper-casual gaming specialist into a diversified entertainment platform.
Voodoo's Social Aspirations and Strategic Pivot
Founded in 2013, Voodoo achieved explosive growth through globally popular hyper-casual games. By 2019, it became the third-largest mobile app publisher by downloads across iOS and Google Play, trailing only Facebook and Google. In 2020, Tencent acquired a minority stake in Voodoo at a $1.4 billion valuation, cementing its industry position.
However, Apple's privacy policy changes and market saturation led to rising user acquisition costs, while hyper-casual games' inherently low average revenue per user (ARPU) squeezed profit margins. Voodoo began pivoting in 2018 toward hybrid-casual games—a transition completed by 2022. The strategy proved successful, with recent in-app purchase revenues approaching €250 million annually.
To accommodate higher-quality hybrid games, Voodoo streamlined its partner studios from over 700 worldwide to just 100, focusing on teams capable of developing complex gameplay. By late 2023, hyper-casual ad revenue accounted for only 20% of total income, while in-app purchases reached 50%. Despite this, quarterly downloads (130 million) remain below one-third of peak levels, indicating growth challenges.
Notable hybrid-casual successes include Mob Control (2021) and Block Jam (2022), generating approximately $20 million and $12.2 million in annual IAP revenue respectively.
The €500 Million Gamble: Assessing BeReal's Value
With Voodoo reporting $600 million revenue and $100 million EBITDA last year, the BeReal acquisition represents a substantial investment. What potential does Voodoo see in the platform?
"BeReal has achieved incredible user loyalty and growth, demonstrating a universal need for sharing authentic, unfiltered experiences with close friends," explained Yazdi. "We're excited to combine our teams and leverage Voodoo's expertise to scale BeReal into an iconic social network."
BeReal's unique model drives its appeal: daily randomized notifications prompt users to share unedited photos within two minutes. This "no-filter" approach has resonated strongly with younger demographics.
The platform boasts over 100 million lifetime downloads and 40 million monthly active users—all content creators rather than passive consumers. Crucially, its user base concentrates in high-value Tier 1 markets like the U.S., Japan, and France.
Strategic Synergies: Can Voodoo Accelerate BeReal's Monetization?
The acquisition creates compelling synergies. BeReal gains access to Voodoo's sophisticated user acquisition engine, while benefiting from the company's social app monetization experience—including successful platforms Wizz and Wemoms.
Notably, Wizz CEO Aymeric Roffe will replace BeReal founder Alexis Barreyat post-acquisition, signaling Voodoo's hands-on approach to operational growth.
This deal represents more than social media expansion—it's a pivotal step in Voodoo's evolution toward becoming a multifaceted entertainment powerhouse. Whether this union can transform BeReal into a globally dominant social network remains to be seen.