Dream11 parent firm touches $400-mn at $5-bn valuation
By Sanjay Kumar
Dream Sports Founded by Jain and Bhavit Sheth, the company is located in Mumbai with tentatively 600 employees. It is a sports technology company that allow user various types of fantasy games like cricket, football, kabaddi, and basketball.
Dream sports is a parent technology company with brands such as Dream11, FanCode, and Dreamz in its portfolio, it announced the completion of a $400-million secondary investment led by TCV, D1 Capital Partners, and Falcon Edge, on Wednesday.
The secondary investment round was conducted by investors TCV, D1 Capital Partners, and Falcon Edge, while the company’s previous investors like TPG Growth, Tiger Global, Chrys Capital, Steadview Capital, and Footpath Ventures too engage in the investment round.
The CEO of Dream 11 Mr Harsh Jain said, “An enormous confidence to the nation start-ups ecosystem. Dream 11 has created the fantasy sports category in the nation to drive digital engagement to sports events & bring fans closer to the sports which they love most.
General partner at TCV Gopi Vaddi said, “Our country is the home town of the largest and most energetic sports fan base with a dynamic mix that is unique to the subcontinent. Dream Sports is offering highly innovative product to the community“.
Dream-11 Journey in Fantasy Games
Dream 11 is one of the most successful startups, whose Android app is not existing on the Play Store, despite that has more than 100 million users. Last year, Dream11 was the sponsor for cricket tournament IPL after bidding around $30 million for the spot.
| 2008 | 2016 | 2017 | 2018 | 2019 | 2020 |
| Founded | Connect with 13 Lakh user | Series c funding | Connect with 1.7 crore + user | Connect with 7 crores + users | 10 crore + user |
India is the cricket-loving nation and 2nd largest internet country as well, the sports fantasy business is continuously growing in India, the fantasy business recorded over 16,500 crore revenue last year. Many famous players have been promoting online fantasy sports games in cricket. Fantasy gaming opens an online stadium for sports lovers to play fantasy games and earn as well. The fan base has also helped to gain popularity. It is said that the game is based on skills, not on luck.
