The French rival of Instagram is preparing a gigantic fundraiser

BeReal enters the big leagues. After a 315% growth in the number of downloads this year, the French rival of Instagram has gleaned the places to find itself fourth in the ranking of the App Store. Its teams are said to be preparing a new fundraiser, report Business Intern.

The company born in 2020 would see the famous investment fund DST Global enter its capital during this next operation, according to sources familiar with the matter. It would be a very spectacular entry for BeReal which is only in its series B.

With DST Global and possibly other historical investors like A16z, its valuation would already reach $630 million. When it was last raised in June ($30 million), the application was worth $150 million.

BeReal, the alternative to Snapchat and Instagram

From their Paris offices, the teams behind BeReal imagined their application as a competitor to Instagram and Snapchat. To distinguish itself, BeReal intends to solve the problems of its rivals on the questions of mental health: namely to put an end to the worries of complex physics and time-consuming use of our smartphone.

Thus, BeReal relies on its users to go back to basics, without filtering or thinking around the angles and times to post. Every day, the app sends a notification to its users, at a random time of day, for those people to take a photo. The app uses both the main sensor and the selfie sensor to post a post that includes both yourself and the scene in front of you.

To take the photo, the application only gives you two minutes. It is quite possible to go over time and start over, but this small count is enough to encourage users to favor immediacy and not seek to stage things, as on Instagram.

The application is useful for keeping in touch with friends or family. A comments and reactions feature is available below the photos. For each reaction, users are invited to take a selfie of themselves. Then, you have to wait until the next day to be able to display a new image.

Lately, billionaire Elon Musk unwittingly promoted BeReal. In the midst of the takeover of Twitter, he defended his wish to bring greater freedom of expression on the social network to the blue bird by publishing a screen of the App Store and the most popular applications. We asked for the French application, which is increasingly taken up by young Americans. To ride the wave, BeReal responded to him on Twitter telling him that they were not for sale.

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