Alexandre Yazdi and Laurent Ritter, friends since high school, created Studio Cadet in 2012, a firm that built mobile apps for clients. Voodoo was incorporated in Paris on 15 April 2013 with the aim of publishing its own products.
The company struggled in its early years. In 2015 it changed strategy and moved to hypercasual games made with outside studios. Revenue reached about €380 million in 2020.
Goldman Sachs invested about $200 million in May 2018. Tencent took a minority stake in 2020 at a $1.4 billion valuation, and GBL paid €266 million for 16% in July 2021 at a €1.7 billion valuation.
After 2021 hypercasual games saturated and Apple tracking changes hit advertising, and Voodoo cut its partner studios from about 700 to about 100. In 2024 it acquired BeReal for €500 million, and revenue in 2025 was $778 million, up 16%.