Meta set to back Better Opinions

Meta, a major player in social media, plans to invest in Better Opinions, a startup in event trading. It will be the third start-up investment made by the Facebook-owned digital giant in the South Asian market after backing edtech Unacademy in 2018 and social commerce Meesho in 2019.

According to TechCrunch, discussions for this deal, in which Better Opinions intends to fund up to $3 million at a valuation under $25 million, are now underway. The media platform contacted Meta for comment, but Meta did not reply.

Gurgaon-based Samay Jain and Soumyajit Das, two former workers of the Indonesian technology firm Gojek, established Better Opinions. Better Thoughts is an early-stage startup that serves as an event trading platform where users may exchange their opinions on events in a variety of areas, such as sports, finance, and entertainment.

It functions as a stock market exchange of opinions and enables people to trade their opinions on events while pairing them with others who have complementary interests.

Better Opinions plans to reach Rs 1 crore in monthly GMV in Q2 and 1 million users in Q4 as events trading becomes a new asset class globally.