Advertisement
X

Facebook’s Parent Company, Meta, To Invest In Better Opinions; Its Third Investment In South Asia

The tech giant had invested in Meesho in 2019 and Unacademy in 2020 

Social media giant, Meta, is set to invest in Better Opinions, an event trading start-up. It will mark the Facebook-owned tech major’s third start-up investment in the South Asian market—in 2019, it invested in social commerce Meesho, and a year later, it backed edtech Unacademy. 

Advertisement

TechCrunch reported that deliberations are currently underway for this deal where Better Opinions plans to raise up to $3 million at a valuation below $25 million. Meta did not respond to the media platform’s request for comment.  

Gurgaon-based Better Opinions was founded by Samay Jain and Soumyajit Das, who are former employees of Gojek, a technology company based in Indonesia. An early-stage start-up, Better Opinions functions as an event trading platform where users can trade their opinions on events in various categories, including sports, finance, and entertainment. Acting as a stock market exchange of views, it allows them to trade on events while matching them with a person with a complimentary trade.  

With events trading emerging as a new asset class globally, Better Opinions is targeting Rs 1 crore monthly GMV in Q2 and 1 million users in Q4. In December 2021, the company launched its Real Money Gaming app and claimed to have received 1.5 lakh sign-ups within a month. 

Advertisement

In February 2022, the start-up had raised over $1 million in a pre-seed round from Y Combinator, Java Capital, Soma Capital, and angels, including Mayank Kumar, Co-founder, UpGrad, Sudhanshu Raheja, Head of Product and Engineering, GoTo Financials (Gojek-Tokopedia), Pratyush Prasanna, SVP, Gojek, Chinmaya Sharma, Chief Commercial Officer Namshi and the Ranadive Family, Co-owners of Sacramento Kings.

Show comments