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☆ BeReal is being acquired and its CEO is stepping down
▼ + stars: | 2024-06-11 | by ( Kali Hays | ) www.businessinsider.com time to read: +1 min

BeReal is acquired by Voodoo Games for 500 million euros. The once-popular social media app struggled to grow and had limited runway left. Co-founder and CEO Alexis Barreyat will leave BeReal after a transition period. Voodoo, a French gaming company, said it valued BeReal at 500 million euros. Business Insider first reported that BeReal was looking to be acquired.

Persons: BeReal, Alexis Barreyat, — Organizations: Voodoo Games, Service, Business Locations: French

☆ 2 former Instagram staffers left their jobs to create a new social-media app that's grabbed the tech world's attention
▼ + stars: | 2024-05-31 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Advertisement"We always have loved this idea of a super simple product that's really just for you and your friends," Sharp told BI. "There's not any real public discovery surface inside of Retro," Sharp said. Advertisement"What's most important to us is that we build a sustainable business, whether that's venture scale or not," Sharp said. "You can complete your feed in Retro," Olson said. Courtesy of Retro"There are a few places where we've chosen comfort over — or perhaps to the detriment of — the growth of the product or the business," Olson said.

Persons: —, Nathan Sharp, Sharp, Ryan Olson, Olson, that's, Mike Krieger, Kevin Systrom, Sam Lessin, A16z's Andrew Chen, Adam Mosseri, Retro's, It's, Olson didn't, you'd, Marissa Mayer's Organizations: Service, Retro, Business, Lone Palm Labs, Retro's, Facebook, Meta, Instagram Labs Locations: Silicon

☆ How Instagram got its mojo back
▼ + stars: | 2024-03-19 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +8 min

AdvertisementSensor Tower shows that Instagram downloads were up 20% in 2023 compared to 2022, in contrast to TikTok's 4% year-over-year growth. Instagram beat TikTok not only in growth, but sheer volume of app downloads in 2023: Instagram had 767 million while TikTok had 733 million. One reason is Threads, the newly launched Twitter competitor, which requires an Instagram account and may have prompted some people who were curious about Threads to re-download Instagram. AdvertisementTikTok is getting oldAt the same time, TikTok, once the main existential crisis for Instagram (well, probably still is), is faltering. In 2014, that same age group (which we are trying not to refer to as middle-aged) accounted for only about 20% of Instagram users.

Persons: Instagram, TikTok, —, I've, aren't, Kim Kardashian, Kylie Jenner, Adam Mosseri, Instagram hasn't, Ryan Broderick, Pew, You'd, let's, ByteDance, I'm Organizations: Service, The New York Times, Meta, The, Schools, Boston Globe Locations: Europe, Valencia, Massachusetts

☆ Citadel's relocation to Miami was a success. But can Ken Griffin get the rest of Wall Street to do it?
▼ + stars: | 2024-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how two of the most powerful Wall Street firms are doing two years after relocating to Miami . Nearly two years ago the billionaire uprooted his hedge fund, Citadel, and market maker, Citadel Securities, from their Chicago headquarters to Miami. Employees at Citadel and Citadel Securities spoke to Business Insider's Emmalyse Brownstein about life in the new HQ . Shares tumbled 55% after The Wall Street Journal reported that Fisker had hired restructuring advisors to assist with a possible bankruptcy filing.

Persons: —, we're, sarayut Thaneerat, Tyler Le, Ken Griffin, Samantha Lee, San Francisco, Griffin, Anita Kot, Dogecoin, Elon Musk, Ned Davis, Fisker, Patrick Pleul, Andrew Cabellero Reynolds, Jenny Chang, Rodriguez, Sam Altman, Muhammad Ali, Steven Mnuchin, BI's Peter Kafka, Ezra Bailey, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Wall, Citadel, Citadel Securities, Sunshine State, Miami, New York, Ned Davis Research, Street Journal, Elon, OpenAI, Google, KKR, Benz Locations: Miami, Florida, Chicago, New York, London, York, Plenty, San, Austin, He's, Blackstone

☆ BeReal weighs an uncertain Series C or acquisition as growth stalls and funding is set to run out later this year, insiders say
▼ + stars: | 2024-03-14 | by ( Kali Hays | Callum Burroughs | ) www.businessinsider.com time to read: +5 min

The company is considering raising a Series C before what's left of its $90 million in funding runs out. BeReal closed a $60 million Series B funding round at an around $600 million valuation in late 2022, following a $30 million Series A earlier the same year. Sooner than later, BeReal leadership will be forced to choose between raising another round and maintaining its independence or selling itself outright, running the risk of disappearing. Company leadership holds an all-hands every quarter after they meet with the company's board, which includes investors. As for the possibility of an acquisition, BeReal leadership has told employees there are "offers" that have been made, without giving any specifics.

Persons: Alexis Barreyat, what's, BeReal, Yuri Milner's, Andreessen Horowitz, Barreyat, Romain Salzman, Kali Hays, Callum Burroughs cburroughs@businessinsider.com Organizations: Business, Gas, Yuri Milner's DST, Accel Locations: Paris, Japan, Asia, Pacific, khays@businessinsider.com

☆ Invite-only Lapse wants to rival Instagram. It's about to raise a lot of cash to do just that.
▼ + stars: | 2024-01-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Lapse, a buzzy social media app that wants to rival Instagram, is set to raise fresh funding, Business Insider understands. Based on the number of shares allocated, the company has raised approximately £24.48 million, $31 million. One London-based source familiar with the deal said Lapse was set to secure around $30 million. A look at the Lapse app. It aims to help satisfy the demand for more authenticity on social media.

Persons: Instagram, Jacob Andreou, Ben, Dan Silvertown, Plural's Ian Hogarth, Dmitry Tokarev Organizations: Business, Meta, Greylock Ventures, Facebook, Companies, Octopus Ventures, Redbus Ventures Locations: London

☆ More than 15% of teens say they're on YouTube or TikTok ‘almost constantly’
▼ + stars: | 2023-12-11 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

About 17% of the 63% of respondents who said they use TikTok indicated they access the short-video service "almost constantly," the report noted. Teenage boys, on the other hand, were more likely to use video game-centric messaging and social apps such as Discord and Twitch. Regarding race and ethnicity, the survey found that about 80% of Black teenagers use TikTok, compared to 70% of Hispanic teens and 57% of white teens. Hispanic teens are also more likely to use the Meta-owned WhatsApp messaging service than Black or white teens, the report noted. The Pew Research survey was based on the responses of nearly 1,500 13- to 17-year-olds between Sept. 26, 2023, and Oct. 23, 2023.

Persons: TikTok, Snapchat, Meta's Organizations: Pew Research Center, YouTube, Facebook, Twitter, U.S, Pew Research Locations: U.S

☆ Instagram is taking aim at a wave of alternative social-media apps as it launches and tests new features
▼ + stars: | 2023-11-25 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

Over the last several months, Instagram has been testing and rolling out several features to bring us closer to our friends. And yes, that means more "Close Friends" tools. Earlier this month, Instagram expanded the Close Friends feature, which lets users curate content for a smaller follower pool, to the feed. You can post your memes and photo dumps directly to your grid and only your close friends can see them. A Meta spokesperson confirmed that Instagram is working on two internal prototypes that could push some new apps to the sidelines.

Persons: Instagram, Kylie Jenner, Amo, Alessandro Paluzzi Organizations: Meta, Apple, Business, TikTok, Facebook, Paluzzi Locations: amo

☆ The Hot New Thing in Social Media Is Here. Again.
▼ + stars: | 2023-10-31 | by ( Madison Malone Kircher | More About Madison Malone Kircher | ) www.nytimes.com time to read: +1 min

The history of social media platforms is littered with apps that had their moment before fading. And in 2015 there was Beme, which was marketed as an online space for sharing everyday life as it really is. Much like Dispo, Lapse encourages people to take pictures the way they did in the analog days, when disposable cameras were all the rage. When the photos are ready, several hours later, their takers can decide if they want to post them for their Lapse friends or archive them for private viewing. All photos posted on Lapse must be taken in the app and cannot be altered in any way.

Persons: Gen Organizations: Apple Locations: United States

☆ Great news — social media is falling apart
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

And I'm not alone: People are spending less and less time on social media. But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. Studies have found that news overload from social media can cause stress, anxiety, fatigue, and lack of sleep.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Massachusetts Amherst, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ Welcome to the Great Internet Splintering
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. The fatigue I have felt is therefore partly fueled by another, more-pressing concern: Which social network should I bank on? But until it emerges, I expect to continue living a splintered and nomadic online social life.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Michigan, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ BeReal is set to make its first marketing hire — but experts say it could be too late for the app to recapture its early buzz
▼ + stars: | 2023-09-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

BeReal recently posted a job ad for its first-ever communications and marketing lead. Social-media experts said it's probably too late for BeReal to recapture its early buzz. BeReal, the French photo-sharing app startup, is set to make its first-ever marketing hire but social-media experts say it may be too late to recapture the early buzz. But BeReal appeared to have missed its moment to capitalize on its surge in popularity in 2022, experts have said. Ultimately, it could be too late for BeReal to turn itself around without a substantial pivot, experts said.

Persons: BeReal, it's, they've, Colin Kennedy, influencers, Kennedy, Paul Armstrong, Armstrong Organizations: US App Stores Locations: BeReal, Europe

☆ Social Media Is Dead: Instagram, TikTok Replaced by Group Chats, Messaging
▼ + stars: | 2023-08-30 | by ( Sydney Bradley | Amanda Perelli | ) www.businessinsider.com time to read: +15 min

Frustrated with the state of the platform, Breuning launched the "Make Instagram Instagram Again'' crusade in 2022. Influencers, marketers, average users, and even social-media executives agree: Social media, as we once knew it, is dead. Social media to social mediaNo app better defines the changing nature of social media than Instagram. "I'm honestly just tired of social media," said 23-year-old Walid Malb, who works in the creator economy. Amanda Perelli is a senior creator economy reporter covering social media influencers, advertising and marketing trends for Insider.

Persons: Tati, everyone's, Bruening, Breuning, algorithmically, Kylie Jenner, Adam Mosseri, Instagram, Jeffrey Gerson, Sarah Frier, Influencers, Mosseri, Hannah Stowe, Andrea Casanova, Casanova, I'm, Walid Malb, —, Gerson, Nina Haines, Victoria Johnston, Johnston, Lia Haberman, Alpha, they're, Haberman, wouldn't, Amanda Perelli, Bradley Organizations: Bloomberg, Apple, Twitter, UCLA, American Influencer Council, Social, . Locations: Instagram, New York, Similarweb, Castro, Geneva

☆ Meta has hired the core team behind the once-buzzy photo app Poparazzi
▼ + stars: | 2023-07-07 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

The core team behind the once-viral social-media app Poparazzi has been hired by Meta. Poparazzi, an anti-selfie photo-sharing app that encouraged users to snap pictures of their friends, skyrocketed briefly to the top of Apple's US App Store after launching in 2021. Now, four Poparazzi staffers, including its engineers and CEO Alex Ma, are employees of Meta, Insider has learned. Poparazzi cofounders Austen and Alex Ma. "Our journey to Poparazzi started 4 years ago with a simple goal: to connect people authentically," Alex Ma wrote in the Medium post.

Persons: Poparazzi, Alex Ma, Meta, Alex, Austen Ma, Ma, TTYL, Poparazzi cofounders Austen, Poparazzi's Organizations: Apple, Meta, Benchmark, TechCrunch, Facebook

☆ Sequoia bolsters London office with sixth partner hire as VC firm unveils radical restructure
▼ + stars: | 2023-06-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Venture capital firm Sequoia has hired a sixth partner for its London office, Insider understands. Venture capital firm Sequoia has bolstered its presence in Europe with the hire of its sixth partner in London, Insider understands. "Since Julien joined us as an associate five years ago, he's become a valued member of our London team," Accel partner Sonali De Rycker said. Sequoia will expand in Europe despite a broader contraction in venture capital funding to European startups. Sequoia has closed 21 deals in Europe in the three years since it opened in London, Crunchbase data shows.

Persons: Julien Bek, Accel's Luciana Lixandru, Sequoia's Lixandru, Bek, Julien, he's, Sonali De Rycker, Slay, Matt Miller, George Robson, Anas Organizations: Sequoia, . Venture, Apple, Accel, London, Investment, Investments, Trade Republic, Global Founders Capital, Revolut Locations: Sequoia, Europe, London, California, China, India, Southeast Asia, Geneva, Switzerland, Lixandru

☆ Regular internet use may be linked to lower dementia risk in older adults, study says
▼ + stars: | 2023-05-03 | by ( Jen Christensen | ) edition.cnn.com time to read: +6 min

A study published Wednesday in the Journal of the American Geriatrics Society suggested that older people who regularly used the internet were less likely to develop dementia. Scientists still don’t know what causes dementia, so the new research can’t pinpoint the exact connection between internet usage and brain health. A 2020 study found an association between cognitively stimulating jobs and a lower risk of dementia, for example. Research also suggests that most older adults most frequently use the internet for basic tasks like email, news or online banking. And learning new skills may be protective against dementia, studies suggest.

☆ I rented clothes instead of buying new, and saved $53 a month—here's the No. 1 reason I'll keep doing it
▼ + stars: | 2023-04-17 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

I started renting used clothes in January, saving me an average of $53 per month so far. Balancing my vanity with an awareness that I needed to budget more effectively, I started renting clothes from Nuuly — a sister company to Urban Outfitters — in January. It hasn't curbed my shopping habits as much as I predicted, but it has saved me money: I spend $53 less per month, on average. But I didn't start renting clothes for my self-esteem. Why I'll keep renting clothes — but not forever

☆ Instagram cofounder says the app has 'lost the soul'
▼ + stars: | 2023-03-16 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Instagram cofounder Kevin Systrom said the app has "lost the soul" on an episode of "On with Kara Swisher." The app, he said, used to be for family and friends to share photos. "My biggest regret, I think, at Instagram is how commercial it got," Systrom said. "I think we've lost the soul of what made Instagram Instagram," Systrom said during a podcast interview with tech reporter Kara Swisher. That creates a "terrifying" dynamic, he said, where Instagram users believe that the curated facades they see on the app are people's real lives.

☆ HQ Trivia imploded fast but its legacy lives on
▼ + stars: | 2023-03-03 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +5 min

But like HQ Trivia, these efforts rarely seem to last. Video Ad Feedback What is HQ Trivia 02:32 - Source: CNNThe short life of HQ TriviaTwice a day, for 30 minutes, the world stopped as players watched one or more people receive what could be a significant amount of money instantaneously on HQ Trivia – and viewers had their own shot at the pot, too. Unlike HQ Trivia, however, Wordle does not require its users to share that experience at the exact same moment in the day. BeReal may arguably be HQ Trivia’s most lasting legacy, despite it not being a trivia game. The aim is different – creating authenticity – but like HQ Trivia, it prompts users to be in the moment.

☆ These are the startups to bet your career on, based on 3 key factors
▼ + stars: | 2023-02-10 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +3 min

I'm Diamond Naga Siu, and a little more than a year ago, I bet my career on Insider. A few key factors molded my decision: the editor (AKA my boss), my team, the ability to have journalistic impact, and our company's trajectory. Although I made the jump in very different economic circumstances, these are integral factors to consider for anyone's next career steps. They found the 43 startups to bet your career on this year, looking at a variety of factors, including the founding team, the market, and its stature among investors. From left to right: Phaedra Ellis-Lamkins, Nikhil Mathew, Jaleh Rezaei, and Anurupa Ganguly Promise; Mutiny; Prisms; Marianne Ayala/InsiderThese are the startups to bet your career on.

Companies Twitter Inc FollowAlphabet Inc Follow(Reuters) - Damien Kieran, who resigned as Twitter (TWTR.MX) Inc's chief privacy officer in November after Elon Musk took over the social media giant, has joined photo sharing app-maker BeReal as its top lawyer. Kieran started Monday as general counsel at Paris-based BeReal, he said in posts on LinkedIn and Twitter. Kieran and BeReal, whose popular social media app prompts users to share a daily photo, did not immediately respond to requests for comment. In addition to his role as chief privacy officer, Kieran was also vice president and deputy general counsel at Twitter before leaving in November, according to his LinkedIn account. Other top lawyers, including deputy general counsel James Baker, have also been fired or resigned.

☆ Discord is paying for teens to give each other compliments
▼ + stars: | 2023-01-19 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +2 min

The Discord app is seen on an iPhone in this photo illustration in Warsaw, Poland on April 3, 2021. We've been here and done this before when it comes to social media: a new, fast-growing app is providing a way for online users to share inspiration and encouragement. At some point in most social media companies' histories, dating all the way back to Facebook's role in global "democratization" during Arab Spring, early social media success has been focused on positive effects. Seattle Public Schools' recently filed lawsuit against TikTok, Meta, Snap and others alleging a youth mental health crisis caused by social media. But Gas has continued to grow as a place for teens to engage with peers, amassing 7.4 million installs.

☆ Gen Z loves the flip phone
▼ + stars: | 2023-01-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +8 min

Now, Gen-Z’s latest “vintage” obsession is the flip phone – that mid-1990s era phone that has suddenly become oh so popular with millennials. “I’m team flip phone revolution,” singer Camila Cabello tweeted Thursday, posing with a TCL flip phone, vintage. Maybe I can write the theme song guys 💪💪💪💪 pic.twitter.com/yOJgCdAgNq — camila (@Camila_Cabello) January 13, 2023“I found a little 90s, Matrix-y flip phone,” Cameron said. “At parties people will say, ‘oh my goodness, is that a flip phone?,’” Palazzolo said. And yes, new Nokia flip phones are still available – the Nokia 2760 Flip is sold at Walmart from prepaid brands such as Verizon for $19.99.

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☆ Temu's low prices catapulted the Chinese app to the top of the US download charts. Here's what we know about it — and how it could avoid its competitors' pitfalls.
▼ + stars: | 2023-01-12 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Temu, a new shopping app from Chinese e-commerce giant Pinduoduo, is making waves in the US. In December, Temu had 9 million US downloads, topping Amazon, which had 4.2 million downloads; Shopify's Shop app, which had 3.4 million downloads; and fellow Chinese player Shein, which had 3 million downloads. Like Shein, Temu also boasts a large selection of products, with its app description claiming that it offers thousands of new items a day. Shein was the most downloaded app globally in 2022, with 229 million downloads, while Amazon was the top app in the US. Notably, Pinduoduo was also a top downloaded app globally, ranking seventh with 79 million downloads.

☆ The tech we couldn’t live without in 2022
▼ + stars: | 2022-12-23 | by ( Cnn Staff | ) edition.cnn.com time to read: +8 min

CNN —Bone conduction headphones, TV streaming devices and Bluetooth speakers are among the tech gadgets topping holiday wish lists this year. Other notable products – ahem, the new 14 Pro and 14 Pro Max – are near impossible to find. Since my move to New York, I’ve had to find all new favorite spots for good food and drinks. – Victor Blackwell, co-anchor of CNN NewsroomHBO MaxNow that I commute home at the ungodly hour of 1 a.m., I lean heavily on my HBO Max app (starts at $9.99 a month). – Samantha Kelly, CNN senior tech writerRev.comI remember being an intern over a decade ago logging half hour long interviews for producers.

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