Who Owns BeReal?

BeReal is a photo-sharing and messaging app company headquartered in Paris, France. The app was developed by Alexis Barreyat and Kévin Perreau and released in 2020. It has a daily notification that encourages users to share their photos/selfies with friends. As of Dec 2023, BeReal had over 25 million daily active users. [1]

BeReal differentiates itself from rival social platforms by prompting spontaneous authenticity through randomly timed windows. Users only have 2 minutes to take selfies for their BeReal posts.

This short window ensures users present their authentic daily situations and activities. However, the platform has been losing customers since late 2022. As of Mar 2023, BeReal’s daily active users (DAUs) had dropped 61% from its peak.

Its DAU declined from about 15 million in Oct 2022 to less than six million in Mar 2023. The app’s novelty is wearing off among its core Generation Z demographic. [2]

BeReal was one of the fastest-growing photo-sharing apps in 2022. It had a breakout moment when frequent discussions of the app on TikTok pushed it to the top of the app store charts. In Nov 2022, BeReal won Apple’s 2022 iPhone App of the Year. However, the team failed to deliver game-changing user-facing features for over nine months. The delay contributed to the app’s declining daily active users. [3]

BeReal has invested in expanding and strengthening its platform’s functionalities. In Dec 2023, BeReal announced four new features, including Behind the Scenes (BTS), Tagging, RealGroups, and Your-2023-Recap.

BTS captures videos for a few seconds before taking a static shot, allowing friends to view short behind-the-scene clips linked to the selfie post. Users can create private groups with RealGroups and tag friends in posts with the Tagging feature. But who owns BeReal? [4]

Table of Contents

Who is BeReal’s Owner?

BeReal is a standalone photo-sharing and messaging app company backed by founders, investors, and venture capitalists. Alexis Barreyat became BeReal CEO after co-founding the company with Kevin Perreau.

Other BeReal top management members include Head of Growth Andrea Palmstein, Associate Head of Marketing Emily Moravits, VP of Talent and People Julia Walker, and Head of Field Marketing Julian Hislop. The company relies on this team for guidance and leadership. [5]

BeReal offers Android and iOS apps. The photo-sharing platform has been losing traction in the US since late 2022. As of Aug 2023, BeReal had 3 million monthly active app users on iOS and Android, down 700,000 from 3.7 million in Nov 2022.

However, BeReal usage has continued to grow in its domestic French market. The app had nearly 615,000 monthly active users on Android in France in Aug 2023, up from less than 500,000 in 2022. [6]

BeReal rose to fame by emphasizing authenticity and targeting Gen Zs. The fast-rising social media app helped users connect with friends by sharing unfiltered glimpses into their daily lives.

According to a Pew study, around 13% of US teens use the BeReal app. In Jan 2024, BeReal had 23 million daily active users. The company increased its user base by 3 million from Aug 2022 to Jan 2024.

New features launched in 2023, like groups, mentions, multiple posts daily, pinned posts, and a “friends of friends” feed, contributed to the growth. [7]

BeReal’s commitment to fostering existing friendships undermines its revenue generation capabilities. The company is learning from competitors like Facebook, which makes most of its profits from adverts.

In Feb 2024, BeReal launched “RealBrands” and “RealPeople” for brands and celebrities to sign up and join its platform. Opening the door to companies is the best first step toward introducing ads and earning revenue. BeReal can also sell premium features to brands and celebrities seeking robust social media marketing capabilities. [8]

Image Credit: Eaters Collective

BeReal Ownership History

Alexis Barreyat and Kévin Perreau developed and released the BeReal app in 2020, marking BeReal’s founding as a company. Before establishing BeReal, Barreyat was a media producer at GoPro for 2 years, and Perreau was the Chief Project Officer at Opteamis.

They are BeReal’s original and current majority owners. The pair began working on the app in late 2019 and launched it on the App Store in early 2020. By 2021, BeReal had 500,000 users across French college campuses. [9]

The founders developed BeReal to create authentic social media experiences. The platform mimicked an older social app Frontback that also leveraged the smartphone’s front and back cameras to take photos simultaneously.

Its growth and traction in French colleges attracted investors’ attention. The company was seeded by French VCs – Kima Ventures and New Wave. In Jun 2021, BeReal completed a $30 million capital funding round backed by a16z, DST, Accel, and Kima Ventures. [10]

BeReal’s college ambassador program and features like WidgetMoji and RealMoji fuelled its growth via word-of-mouth. In early 2022, the startup closed a $60 million Series B funding round, increasing its valuation to nearly $587 million.

The company used some of the funds on marketing campaigns and its expansion into the UK and US through a college ambassador program. By Jul 2022, BeReal was the trending topic on TikTok.

The app went viral and won the 2022 iPhone App of the Year. BeReal’s daily active users nearly tripled within four months from 7.9 million in Jul 2022 to 20 million in Oct 2022. [11]

Image Credit: Josh Rose

BeReal Shareholder Structure

BeReal is a venture-funded photo-sharing app startup owned by its founders, investors, and insiders. Alexis Barreyat and Kévin Perreau developed the platform. They are the company’s majority shareholders.

Investment specialist Xavier Niel discovered BeReal and helped the founders raise seed funding from French VCs Kima Ventures and New Wave. Niel and the two VCs have been with BeReal since its early days.

In 2021, Accel partner Sonali De Rycker and a16z’s Andrew Chen joined BeReal’s board after the startup raised $30 million from their VCs. Both investors are BeReal’s insiders and shareholders. Their VCs – Accel, DST, and a16z – have a stake in the company. [12]

BeReal’s shareholder structure has 12 institutional investors, including Coatue Management, Accel, Alven Capital Partners, Andreessen Horowitz, and DST Global. They invested in BeReal for a stake in the business.

In 2022, BeReal raised $60 million in Series B funding, at a $600 million valuation. The company had about 10 months of funding left as of Mar 2024. BeReal’s founders and top management are considering raising a Series C.

However, BeReal faces tepid investor interest because it doesn’t have a viable path to monetization. The second option considered by BeReal leaders is selling the business. [13]

References & more information