Ah! Ventures has invested in a Social Media and Market Research Tech (MRTech) Platform Opined through its First Gear Platform.
Opined is a discussion-driven microblogging platform focused on people’s opinions. Humans are inherently opinionated, with a need to exchange ideas & opinions. In our day to day life, we constantly find ourselves engaged in debates & discussions with our family, friends and colleagues. However, when we look at the current online space, we rarely find these meaningful discussions happening. Moreover, these opinions are not monetized at its full potential with current passive and secondary social media analytics space.
The current social media analytics space generates over US$3.6 billion annually and growing at 34.1% CAGR. However, the primary market research stands at more than US$76 billion annually. There is huge gap between the primary research and social media analytics and Opined aims to build solutions to target this gap.
For the first time, users have an option to be part of a platform to join meaningful discussions without unwanted noise and fear of judgement and companies can get customised research through consolidated opinions.
Vipul Gajera, Co-founder said “As per Edelman Trust Barometer report, 71% of people agree that social media should be more meaningful. The same report also states that more than 60% of people no longer trust social media platforms. This clearly shows the need for a meaningful platform where users participate in sincere and noise-free yet light hearted conversations. At Opined, our mission is to create the right platform that can help not only the companies with customised research, but also our users with a world class Make-In- India meaningful space.”
“We are very excited to be part of the First Gear Program at ah! Ventures and looking forward to work with some of the best minds in the Indian start-up ecosystem. We are certain that our collaboration with ah! Ventures will help us achieve hyper growth in coming months.” he added.
Amit Kumar, Partner, ah! Ventures said “The Analytics and Insights space gets most credibility when it is backed by first hand, genuine opinions and feedback. Opined is aiming to address that very problem by making opinions more meaningful and effective for users and brands. We are delighted to be a part of this exciting journey and am sure the team will transform the platform where every opinion will count”.
This is ah! Ventures’ 77th investment (in 61 Startups) and 14th investment in 2021. ah! Ventures plans to do 50+ investments in 2021 totalling to INR 150+ CR (~21MN US$).