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Newsletter: How Curating Random Photos of People Became a $100+ Million Dollar Company
This is the New Money Talks Newsletter, packed with entrepreneurs’ personal stories, real estate investing, financial tips, and more! All in three sections!
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Welcome to our latest newsletter, where we delve into the founding story of BeReal, a social networking app quickly gaining popularity, and the valuable lessons we can learn from its success.
The Genesis of BeReal
Kevin Perreau and Alexis Marcombe, the French duo, co-founded BeReal in 2019. The concept was inspired by the authentic and spontaneous nature of taking photos with friends. The app sends a notification to its users every day at a random time, prompting them to take and share a picture of their current activity within 20 minutes.
The Struggles and Triumphs
The journey wasn't always smooth sailing. The founders faced challenges in getting initial funding, and the pandemic hit just as they were about to launch. Despite these setbacks, they persevered. Their determination paid off when the app saw exponential growth in 2020, especially among the younger demographic.
What Sets BeReal Apart?
Unlike other social media platforms, BeReal encourages users to share ordinary moments, not just the highlights. This authenticity resonates with people who are tired of the curated and often unrealistic portrayals of life on other platforms. By capturing real-life moments, BeReal offers a refreshing change, demonstrating that there's beauty in the everyday.
Lessons from the BeReal Story
1. Perseverance is Key
The BeReal story shows us that perseverance in the face of adversity can lead to success. Despite facing numerous setbacks, the founders never gave up on their vision.
2. Authenticity Matters
In a world where social media often highlights the best parts of people's lives, BeReal's focus on authenticity sets it apart. This has resonated with users, showing that people value genuine content.
3. Innovation is Crucial
BeReal's unique approach to social media proves that innovation is crucial in a saturated market. By offering something different, BeReal has managed to carve out its own niche.
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Tweet of the Day
Twitter has been one of the best growth hacks for our business
From getting clients to connecting with tons of entrepreneurs
Can't recommend building in public enough - especially for younger entrepreneurs who don't necessarily have a proven track record
— Sam Habibi⚡️ (@SAMHABIBI_)
6:20 PM • Aug 20, 2023
If you read today's newsletter and enjoyed it even half as much as we enjoyed preparing it for you, we'd love for you to reply and give your feedback so we can keep improving them over time!
See you on Friday :)