BeReal Business Model
Jun
The BeReal Business Model provides a unique and forward-thinking platform for individuals to connect and have authentic conversations. BeReal is a social networking service that aims to create a genuine online experience for its users. Unlike other social media platforms, BeReal nurtures real relationships and promotes meaningful interactions.
On BeReal, users can post honest thoughts, engage in thoughtful discussions, and share their experiences openly. The platform encourages users to be authentic and eliminates the pressure of crafting a perfect online persona. With BeReal, users can connect with others with similar interests, beliefs, or values, fostering a sense of belonging and community.
BeReal has gained traction among individuals who value genuine connections and seek a safe space to express themselves. Through its user-friendly interface and intuitive features, BeReal has attracted a growing user base of individuals, influencers, and community-focused brands. As a result, the BeReal Business Model has significantly increased user engagement and loyalty.
Contents
A brief history of BeReal
BeReal, the social media platform dedicated to fostering authenticity and genuine connections, emerged in 2020. Founded by Alexis Barreyat and Kévin Perreau, the exact details surrounding its creation remain a mystery. However, their journey to develop the app supposedly started in 2019.
Alexis Barreyat, formerly of GoPro’s media production team, and Kévin Perreau, the former Chief Project Officer at Opteamis, united with a single vision — to revolutionize the social media experience. They envisioned a platform where users could freely express themselves and engage in meaningful interactions.
In early 2020, after months of arduous development and careful refinement, Barreyat and Perreau launched BeReal on the App Store. Though the app experienced a relatively quiet first year, its fortunes shifted in 2021, particularly among college students in France. The user base began to grow steadily, reaching an impressive half a million users.
Recognizing the platform’s potential, leading venture capital firms Andreessen Horowitz and Accel took the reins in mid-2021, leading a $30 million funding round. This capital infusion provided BeReal with the resources necessary for growth and expansion.
However, it was in early 2022 that BeReal truly burst into the mainstream consciousness. The platform captured the attention of young people on TikTok, leading to viral discussions and catapulting its user base to new heights. Seizing the moment, BeReal set its sights on expansion into the United Kingdom and the United States, spearheaded by a highly successful college ambassador program. This program played a pivotal role in solidifying BeReal’s popularity and fueling its viral growth.
By the close of 2022, BeReal had secured the accolade of iPhone App of the Year, a testament to its widespread acclaim and success. With its unwavering commitment to authenticity and genuine connections, BeReal has carved out a unique space within the competitive social media landscape.
Today, BeReal remains committed to its founding principles, striving to create an inclusive and supportive community. The platform’s success lies in providing users a space to be their true selves, foster genuine connections, and allow individuals to share their stories and experiences.
Who Owns BeReal
BeReal is primarily owned by its founders, Alexis Barreyat and Kevin Perreau. As the app’s visionaries, Alexis and Kevin hold a significant ownership stake in BeReal, driving its strategic direction and overseeing its development.
The BeReal ownership team includes other key members contributing to the app’s success. Andrea Mach di Palmstein, the Head of Growth, plays a vital role in expanding BeReal’s user base and maximizing its market reach. While Andrea does not own the company, her expertise and efforts fuel BeReal’s growth.
As the Chief Operating Officer (COO), Romain Salzman is responsible for the smooth operations and efficient execution of BeReal’s strategies. While Romain’s precise ownership stake is not disclosed, his position as a key executive indicates his involvement in the company’s ownership structure.
In addition to the core team of founders and executives, BeReal has attracted investment from various investors who hold ownership stakes in the company. These investors have recognized the potential and value of BeReal’s app and have chosen to invest in its growth and success.
While specific details about the individual investors and their ownership stakes are not provided, their involvement indicates their trust and confidence in BeReal’s business model and potential for long-term success.
The ownership structure of BeReal reflects a combination of the founders, key team members, and strategic investors, all working together to drive the app’s growth and shape its future. It showcases the collaborative efforts of these stakeholders in realizing BeReal’s vision of revolutionizing the digital marketing landscape.
BeReal Mission Statement
BeReal’s mission statement is “to create an authentic world that keeps you connected with the people you really care about.”
How BeReal works
Focusing on authenticity and genuine connections, BeReal provides a unique experience that differentiates it from other social media platforms.
BeReal’s business model revolves around creating a safe and inclusive space for users to share their true selves and connect with others who share their interests and values. The platform uses advanced algorithms and machine learning to personalize the user experience and foster meaningful connections.
To start on BeReal, users must create an account by signing up on the platform’s website or downloading the mobile app. Once registered, users can set up their profile by providing information about themselves and their interests. BeReal’s intuitive interface makes it easy for users to navigate and customize their profiles to reflect their authentic selves.
Unlike other social media platforms, BeReal focuses on quality over quantity. Users can form connections by following other users who share their interests or values. The platform provides recommendations based on users’ profiles and interests, helping them discover like-minded individuals with whom to engage.
BeReal encourages users to share authentic content by offering various features and services, including the following:
- Real Moments: Users can share genuine moments from their lives through photos, videos, and stories. BeReal’s platform ensures that content is not altered or modified, promoting authenticity and trust among users;
- Real Conversations: BeReal facilitates meaningful conversations through its messaging feature, allowing users to connect and engage one-on-one or in group chats. Users can share their thoughts, ideas, and experiences, fostering community and belonging;
- Real Discoveries: BeReal’s discovery feature helps users find new connections and discover content that aligns with their interests. The platform analyzes user profiles and preferences to provide personalized recommendations, ensuring users are exposed to content that resonates with them.
- Real Connections: BeReal’s unique algorithm considers various factors, such as shared interests, values, and location, to suggest potential connections. This helps users build meaningful relationships with individuals who can enrich their lives.
BeReal’s business model prioritizes user privacy and safety. The platform employs strict security measures to protect user data and prevent unauthorized access. Users can control their privacy settings and choose who sees and interacts with their content on the platform.
How BeReal makes money
While BeReal itself is free to use and hasn’t been monetized, the platform has several avenues to monetize its platform successfully. The following are potential ways through which BeReal can generate revenue:
Subscriptions
Like other platforms, BeReal can introduce a subscription service for individuals and businesses, offering exclusive features and benefits. This subscription can provide access to premium services, personalized recommendations, and enhanced visibility on the platform. By providing valuable add-ons, BeReal can generate a recurring revenue stream from its loyal user base.
Advertising and Sponsorships
BeReal can also adopt an advertising-based revenue model, similar to platforms like Twitter. By offering targeted advertising options, businesses can showcase their products and services to BeReal’s users who share a genuine interest in authentic experiences. BeReal can implement various advertising options, including sponsored experiences, promoted listings, and brand endorsements, thereby providing value to its users and advertisers.
Data Insights and Analytics
With a growing user base, BeReal can collect valuable data on consumer preferences, behaviors, and trends related to authentic experiences. By leveraging this data, BeReal can offer insights and analytics services to businesses, helping them improve their offerings and better understand their target audience. This data can be anonymized and aggregated to ensure privacy while providing valuable market intelligence.
Partnerships and Affiliations
BeReal can form strategic partnerships with travel, hospitality, and experience businesses. Through these partnerships, BeReal can earn referral fees or commissions for driving customers to its partners’ services or products. This can be facilitated through affiliate programs or referral links, providing an additional revenue stream for BeReal.
Exclusive Content or Premium Experiences
BeReal can introduce exclusive content or premium experiences that users can access for a fee. This can include specialized travel guides, behind-the-scenes access to unique events or attractions, or curated collections of authentic experiences. By offering premium content or experiences, BeReal can cater to users willing to pay for enhanced and exclusive offerings.
BeReal Business Model Canvas
The BeReal Business Model can be explained in the following business model canvas:
BeReal Customer Segments
BeReal’s services are accessible to individuals and brands worldwide, making its customer segment diverse and inclusive. BeReal’s customer segment comprises the following:
- Users: Users are at the core of BeReal’s customer segment. These individuals sign up for the BeReal platform to utilize its services for various purposes. Whether seeking personal connections, entertainment, or professional networking opportunities, users’ engagement on BeReal is vital to its success. The user base on BeReal is a vibrant mix of individuals from all walks of life, with a balance between male and female users. In addition, the majority falls within the age range of 25-48, representing a wide range of interests and expertise;
- Professional Users/Brands: BeReal’s customer segment also includes professional users who utilize the platform commercially. These professional accounts, including official brand accounts, play a crucial role in BeReal’s ecosystem. With the introduction of the RealBrands feed, these accounts can now share promotions, offers, and exclusive content directly within the app. This functionality allows brands to connect with BeReal users and engage with them more personally and interactively. By leveraging RealBrands, businesses can enhance their online presence, market their products and services, and build stronger connections with their target audience.
BeReal Value Propositions
BeReal’s value propositions consist of:
- For Users: BeReal’s value proposition for individual users lies in its ability to provide a platform for connecting with others, expressing themselves authentically, and exploring their varied interests. By offering a user-friendly interface and a diverse community, BeReal creates an inclusive environment that encourages meaningful interactions and fosters personal growth. Users benefit from discovering like-minded individuals, sharing their experiences, and engaging in discussions;
- For Professional Users/Brands: BeReal’s value proposition offers a direct channel to engage with a diverse user base for professional users and official brand accounts. By leveraging the RealBrands feed, professional users can share promotions, offers, and exclusive content within the app, effectively connecting with their target audience. BeReal provides the tools and features necessary for these users to enhance their online presence, market their products and services, and build stronger connections with their customers.
BeReal Channels
BeReal’s channels consist of:
- Mobile Application: BeReal’s primary channel is its mobile application, which allows users to access the platform and browse through various features;
- Website: BeReal also has a website that serves as an additional channel for users to access and engage with the platform;
- Social Media: BeReal utilizes popular social media channels like Facebook, Twitter, and Instagram to promote its platform and attract new users.
BeReal Customer Relationships
BeReal’s customer relationships consist of:
- User Engagement: BeReal focuses on building and maintaining solid relationships with its users by providing a seamless and engaging user experience that encourages active participation;
- Community Building: BeReal fosters a sense of community by allowing users to connect with like-minded individuals, share experiences, and engage in meaningful conversations;
- Personalization: The platform offers personalized content recommendations and notifications, enabling users to stay connected with their preferred topics and interests.
BeReal Revenue Streams
Currently, BeReal doesn’t monetize its platform and hasn’t announced any plans to do so soon. The following are potential ways through which BeReal can generate revenue streams:
- Subscriptions
- Advertising and Sponsorships
- Data Insights and Analytics
- Partnerships and Affiliations
- Exclusive Content or Premium Experiences
BeReal Key Resources
BeReal’s key resources consist of:
- Technology Infrastructure: BeReal heavily relies on its robust technological infrastructure to provide a seamless user experience, handle data storage and analysis, and ensure platform security;
- User Data: The platform’s key resource is the vast user data it collects and analyzes to understand user behavior, preferences, and trends. This helps improve the platform’s features and tailor advertisements;
- Team and Expertise: BeReal’s developers, designers, marketers, and data analysts are crucial in maintaining and evolving the platform, leveraging their expertise to enhance features and attract new users;
- Brand Reputation: BeReal’s brand reputation, built on trust, user engagement, and quality content, serves as a key resource for attracting and retaining both users and advertisers.
BeReal Key Activities
BeReal’s key activities consist of:
- Social media marketing and advertising
- Content creation and curation
- User data analysis
- Customer relationship management
- Platform maintenance and updates
BeReal Key Partners
BeReal’s key partners consist of:
- Social media platforms (e.g., Facebook, Instagram, Twitter)
- Influencers and content creators
- Customer service providers
BeReal Cost Structure
BeReal’s cost structure consists of:
- Marketing and advertising expenses
- Content creation costs
- Technology and platform maintenance costs
- Salaries and wages for employees
- Data storage and analysis costs
BeReal Competitors
Competitors play a crucial role in shaping a company’s business strategy and the level of competition within a market. In the case of BeReal, several notable competitors vie for users’ attention in the photo-sharing and social networking space.
BeReal’s competitors include the following:
- Instagram: Instagram is a significant competitor to BeReal in the photo-sharing and social networking. With over 1 billion monthly active users, Instagram offers similar features like photo and video sharing, filters, and a social feed. However, BeReal focuses on fostering genuine connections and promoting authenticity, which sets it apart from Instagram’s often curated and edited content;
- Facebook: Facebook also poses a significant competition to BeReal. With its vast user base, Facebook offers similar photo-sharing and social networking capabilities. However, BeReal’s emphasis on real-life moments and authenticity distinguishes it from Facebook’s broader approach;
- Snapchat: Snapchat is another major competitor to BeReal in photo and video sharing. Snapchat became popular with its ephemeral content feature, allowing users to share momentary snaps. While BeReal focuses on promoting authenticity and real-life connections, Snapchat provides a unique experience through its disappearing content and augmented reality features;
- Pinterest: Though Pinterest is primarily known as a visual discovery and bookmarking platform, it shares some similarities with BeReal. Both platforms allow users to save and share images, but BeReal intends to create meaningful connections through these shared experiences, whereas Pinterest focuses more on inspiration and idea generation;
- TikTok: TikTok is a popular short-form video-sharing platform that has gained immense popularity, especially among Gen Z users. While BeReal emphasizes photo-sharing and social connections, TikTok focuses on video content and creating viral trends. However, both platforms compete for users’ attention and engagement in the realm of social media;
- Twitter (now X): Twitter is a microblogging platform that allows users to share short messages and updates. Although it differs from BeReal in content format, both platforms compete for users seeking authentic connections and real-time updates. Twitter’s focus on news, updates, and trending topics sets it apart from BeReal’s more visual-based approach;
- Flickr: Flickr is another photo-sharing platform that allows users to upload, store, and share high-quality images. Although BeReal and Flickr cater to similar interests, BeReal focuses on fostering user connections, while Flickr emphasizes photography as an art form;
- Reddit: Reddit is a social media platform known for its communities or subreddits, where users can discuss various topics. Though Reddit’s format differs from BeReal’s, both platforms compete for user attention regarding sharing experiences and opinions and connecting with like-minded individuals;
- 500px: 500px is a platform primarily targeting professional photographers and artists. It offers a marketplace for photographers to sell their work and showcases high-quality images. BeReal’s focus on authenticity and connections differentiates it from 500px’s more professional orientation.
These competitors provide alternatives for users seeking social engagement, content sharing, and networking experiences.
BeReal SWOT Analysis
Conducting a SWOT analysis allows us to understand BeReal’s business model and strategic position in the competitive landscape. Below, we will explore BeReal’s strengths that set it apart, its weaknesses that pose challenges, the potential opportunities it can leverage, and the threats it may face.
BeReal Strengths
- User-friendly interface: BeReal offers a simple and intuitive platform, making it easy for users to navigate and engage with the content;
- Niche market focus: BeReal has positioned itself as a social media platform dedicated to authenticity, creating a unique value proposition for users seeking genuine connections;
- Solid user base: BeReal has attracted a substantial number of active users, allowing for a vibrant and diverse community;
- Privacy and security: BeReal prioritizes user privacy and data security, gaining trust from users concerned about online privacy issues.
BeReal Weaknesses
- Lack of brand recognition: Although BeReal has a solid user base, it still lags behind well-established social media platforms in terms of brand awareness and visibility;
- Limited monetization options: As BeReal primarily focuses on user experience and authenticity, there might be limited avenues for generating revenue through traditional advertising or sponsored content;
- Relatively small scale compared to competitors: BeReal’s smaller scale might limit its reach and potential influence compared to more prominent social media platforms;
- Moderation challenges: Balancing free speech and ensuring a safe and healthy community can be challenging for BeReal, especially when managing offensive or harmful content.
BeReal Opportunities
- Market differentiation: BeReal can capitalize on its authenticity-focused approach to stand out in a saturated social media landscape;
- Strategic partnerships: Collaborating with influential individuals or brands that align with BeReal’s mission can help increase its brand awareness and attract more users;
- Geographic expansion: BeReal can potentially expand its user base by targeting new regions or demographics.
BeReal Threats
- Intense competition: Competing with established social media giants, BeReal risks losing users to platforms with more features, resources, and reach;
- Rapid technological advancements: Shifting user preferences and emerging technologies may require BeReal to adapt quickly to stay relevant and innovative;
- Data privacy regulations: Stricter data privacy regulations or public concerns over data misuse might impact BeReal’s ability to collect and utilize user data;
- Negative public perception: Any scandal or controversy involving BeReal or its users could significantly damage its reputation and user trust.
Conclusion
BeReal’s unique and innovative business model sets it apart in the digital marketplace. By providing a platform that connects users with real people for authentic and unbiased opinions, BeReal creates a valuable and trustworthy resource for consumers. The platform’s potential revenue streams, including paid partnerships and advertising, can help ensure its sustainability and growth.
