Meta Platforms, Incorporated is reportedly planning to invest in Better Opinions, an Indian startup building the prediction market for India. Facebook’s parent organization is preparing to make its third startup investment in the South Asian market.
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According to the news posted online by Ghanaian business news source BusinessGhana, Meta Platforms counts India as its biggest market by users. It has invested in other Indian firms in recent years.
Meta Platforms, whose stock price at the time of writing this report is US$169.27, per the information posted on Yahoo! Finance, invested in Meesho in 2019. The latter is a social commerce platform that lets users resell products with their social networks.
Additionally, Meta Platforms invested in the Indian online learning platform Unacademy in 2020. It proposes investing in the seed financing round of Better Opinions worth up to US$3 million.
This potential deal will be the first-ever instance Facebook’s parent organization takes a stake in a seed-stage Indian startup if the talks materialize into a buyout agreement.
The deliberations involving Meta Platforms backing early-stage startup Better Opinions are ongoing, and the deal is yet to close.
The Menlo Park, California-headquartered American multinational technology conglomerate did not respond to a comment request last Tuesday evening, July 19, 2022.
Jain and Soumyajit Das founded Better Opinions in 2021. The eponymous application permits users to exchange perspectives on everyday subjects and win authentic money based on how acceptable their forecasts turn out.
The everyday topics comprise predicting the views count a YouTube video can garner during a particular period, a cryptocurrency token’s trading price at a specific future time, and a box office collection of new titles.
Moreover, Better Opinions users can predict cricket matches’ results using the mobile application. They can forecast the particular outcomes of certain events in the cricket game, like runs in an over as well.
The fledgling Indian startup indicated on its website that users can set their price, trade, and hedge using Better Opinions. Users can also profit and trade with their own skills and Better Opinions’ insights.
The Indian startup desires to make trading a thrilling exercise. It is also opening the investment world to individuals who comprehend particular topics yet cannot use their knowledge in the stock markets.
We think Better Opinions will benefit greatly if Meta Platforms pushes through with its possible investment in this Indian startup.
We also believe Facebook’s parent organization, being a world-renowned social media platform service provider, can boost Better Opinions’ user base and revenue.