Voodoo, the well-known mobile games company, recently made a bold move by acquiring BeReal, a fast-growing social app, for €500 million.
The structure of the deal between Voodoo and BeReal involves a combination of cash payments and shares in Voodoo, with part of the €500 million investment paid upfront and part based on performance. The acquisition instantly adds 40 million users to Voodoo's monthly active user base of 150 million across its entire portfolio.
Voodoo does not plan to use BeReal or its games for massive cross-promotion, but rather to leverage its expertise, technology and skills to grow BeReal as a global social network.
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