BeReal has 10 months left before it runs out of money | M8YI6J3 | 2024-03-16 10:08:01
BeReal is in a real bind.
In accordance with Business Insider, staff have been advised at a February all-hands meeting that the app had about ten months of runway left before operating out of money. While BeReal has maintained a relatively low head rely of 60 staff, its server costs are vital. Now, management is scrambling to make the app interesting to buyers.
BeReal's unique, in-the-moment photo-sharing function reworked it into a cultural phenomenon on the peak of the COVID-19 pandemic. Heralded as the "anti-Instagram," the company reached a valuation of $600 million in 2022 after securing $90 million in funding that very same yr. However the app's progress has since slowed, even after an try and diversify its attraction by adding new features in 2023.
In line with inner metrics shared with Business Insider, BeReal at present has 40 million month-to-month lively users and 25 million every day lively users, up from 20 million in 2022. However sources stated that leap is unimpressive within the eyes of buyers and that the corporate was struggling to drum up curiosity in funding. Leadership also informed staff that "We're speaking to a number of the largest tech corporations on the earth" a few potential acquisition. But if a solution does not present itself soon, BeReal may be doomed — like the photographs on the app — to vanish.
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