After two acquisitions in the United States, MWM acquires the London startup Picnic

New external growth operation for MWM. Indeed, the French company has just completed the acquisition of the British startup Picnic, which has developed a photo management application. The financial terms of the operation have not been disclosed.

Founded in 2019 by Jack Rogers and Harry Lachenmayer, this company, based in London, was created to meet a very simple need: organizing the thousands of photos that accumulate in your smartphone’s camera roll. A task that can quickly become laborious and especially annoying when done manually.

With its solution, Picnic allows you to quickly sort through your photos and rediscover forgotten memories. “Very quickly, we understood that this need goes beyond simple sorting: it also affects the way in which we rediscover, value, and share our memories,” emphasizes Jack Rogers, co-founder and CEO of Picnic.

The London startup boasts over 2 million users since its launch on iOS. It is particularly popular among the “Gen Z” (people born in the late 1990s and early 2010s). Now profitable, the company, supported by Stride, Seedcamp, and Angel Invest, claims to generate 4 million euros in annual recurring revenue (ARR). “Thanks to the MWM platform, Picnic will be able to accelerate even faster and reach tens of millions of users worldwide,” says Jean-Baptiste Hironde, founder and CEO of MWM.

Under the leadership of the French company, Picnic plans to develop new functionalities to become a social network, drawing inspiration from the practices popularized by the BeReal application, acquired by Voodoo for 500 million euros in 2024. After iOS, Picnic should land on Android by the end of the year. This evolution should allow the application to reach a much larger user base and increase its turnover beyond 7 million euros in 2026.

In line with the acquisitions of Sincerely and Swipewipe

By setting its sights on this London startup, MWM continues its shopping spree in the photo segment. Just four months ago, the French publisher of mobile applications also acquired the Californian studio Sincerely, the origin of an application allowing users to write real anonymous letters to confide, share their secrets, questions, challenges, or personal stories.

Previously, in 2024, MWM also acquired the New York-based startup Swipewipe, which developed a photo management application offering editing features thanks to AI. Thus, another stone is added to the building with Picnic. But MWM’s appetite is probably not yet satisfied, and further acquisitions could be made during the year to expand its galaxy of consumer mobile applications.