You may have heard the name Fantasy Cricket. In which a team has to be formed before any match based on any application. Good money can be won if the player in your selection performs well. Some people even win millions of rupees by forming a team on this application. The app called Dream 11, the king of fantasy sports, is currently under heavy discussion. In fact, the company, which was started as a startup by two boys, is worth 4 4 billion (approximately Rs 30,000 crore). To put it bluntly, the value of this company is estimated at Rs 28988 crore, which is really shocking.
It is said that Dream 11 is in talks with Alpha Wave Incubation, a UAE company of Dream Sports. Who is investing more money in the company. That being said, the deal could be finalized soon and the company’s value would almost double thereafter. After the deal, the company will be worth billions of rupees, which was started by two boys about 12 years ago. The company had previously traded for શેર 2.25 billion in shares, followed by companies such as Tiger Global, TPG Tech Adjacencies and ChrysCap. Here’s how Dream 11 finally made billions on fantasy cricket and is set to become an estimated Rs 30,000 crore company.
How did it start?
The app was started by two boys named Harsh Jain and Bhavit Seth. They both started in 2008 and within a few years the company became the most successful fantasy sports app in the country. Let me tell you, Harsh Jain studied MBA with Columbia Business School and before that he started Red Digital and then worked on the idea of Dream 11. Bhavit Seth is an engineer with an MBA from Bentley University and an engineering degree from Harvard. They work on the application to give users a better experience.
Initially they had great difficulty in advancing this startup and had to overcome many legal issues. In fact, this is like a speculation that is illegal in India. However, after a long battle they started this application. The company claims that winning money is not about luck but about playing skills. Although there are now many gaming apps available in the market that are working on fantasy sports, Dream 11 is considered to be the king of this sector.
Millions of users use
Let me tell you, the company received funding from Kalari Capital twice in 2015, of which no further information has come to light. Decades later, in 2017, 2018, 2019 and 2020, the company also received funding in crores of rupees from different places. The company now has over 75 million users connected to it, who build their own team on it and make money. That being said, the company also has funding for a Chinese app.
IPL has also been sponsored
In the year 2018, the company made former captain of the Indian team Mahendra Singh Dhoni its brand ambassador. At the same time, Dream 11 was the ‘title’ sponsor of IPL 2020, giving it Rs 222 crore.