Meta to finalise a deal with Indian startup Better Opinions worth $3 million
- ByStartupStory | July 23, 2022
According to reports, social networking behemoth Meta is close to finalising an investment in Indian betting company Better Opinions. Better Opinions’ initial round, which could value the business at less than $25 Mn, is where Meta is hoping to invest up to $3 Mn.
The negotiations are still ongoing, according to the newspaper, which cited persons familiar with the issue. This will be Meta’s first seed-stage investment in the nation if the agreement is successful. According to Better Opinions CEO Jain, the company has so far secured $2.5 million in seed capital. More than $1.25 million worth of transactions has been made on the site by its 6 Lakh users.
In essence, users can wager on movie box office figures and sporting event outcomes to win real money instead of accurate forecasts. In February of this year, the firm raised more than $1 million in a pre-seed round from prestigious investors including Y Combinator, Java Capital, and Soma Capital, among others.
Better Opinions competes in the fantasy sports format against well-funded rivals like Mobile Premier League, Dream11, Halapay, and Nazara Tech. The investment coincides with increased investment in the nation’s fantasy game market. If the deal materialises, it will be the fourth investment by the social media major in India.
About Better Opinions
Better Opinions is an event-based trading platform that was established in 2021 by Samay Jain and Soumyajit Das. It is an event trading platform that allows users to trade their opinions on events in numerous categories, including cricket, football, finance, and entertainment, and allows users to trade on events while matching them with someone who has a complementary trade.
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