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Meta (previously Fb) is trying to put money into an Indian startup known as Higher Opinions, an occasion buying and selling platform that permits customers within the nation to commerce their opinions on classes comparable to cricket, soccer, finance and leisure and win money, the media reported on Friday.
The platform permits customers to commerce on occasions whereas matching them with an individual with a complimentary commerce.
If the deal goes by means of, it will likely be the primary time Meta will take a stake in an early-stage Indian startup, reviews TechCrunch.
Meta is more likely to put money into the seed financing spherical of as much as $3 million, valuing the Y-Combinator backed Higher Opinions at beneath $25 million.
“The deliberations are ongoing and the deal is but to shut,” the report mentioned, citing sources.
Meta has earlier invested in social commerce platform Meesho and edtech platform Unacademy.
Based in 2021, Higher Opinions launched its Actual Cash Gaming App in December final yr. It was 1.5 lakh sign-ups inside a month of its launch.
In February this yr, Higher Opinions raised over $1 million in a pre-seed spherical from Y Combinator, Java Capital, Soma Capital, and traders like Mayank Kumar, co-founder of UpGrad and Sudhanshu Raheja, head of product and engineering at GoTo Financials (Gojek-Tokopedia), amongst others.
“Our intention is to make the app inclusive for all. The inventory market sadly could be very technical and opaque and due to this fact isn`t all the time accessible for all. Nonetheless, once we begin permitting buying and selling in classes comparable to cricket, politics and leisure, not solely can we make buying and selling extra relatable, however we additionally assist enhance their monetary literacy,” Samay Jain, co-founder and CEO, Higher Opinions had mentioned in a press release.
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