After all, how did people become Dream-11 by feeding cricket on the app, 30000 crore rupees company!
You must have heard the name of fantasy cricket, in which a team has to be formed before any match through an application. If the players selected on your behalf perform well then they win good money. Many people win up to millions of rupees by forming a team on these applications. The application Dream 11, called the king of this fantasy sport, is in the news these days. Actually, this company started as a startup by two boys is worth 4 billion dollars (about 30 thousand crores rupees). Simply put, the value of the company is going to be around Rs 28988 crore, which is really shocking.
It is being told that Dream 11 company Dream Sports is in talks with Alpha Wave Incubation of UAE company, which is going to invest big money in the company. It is being told that soon this deal can be final and after that the value of the company will almost double. After this deal, the value of that company will be in billions of rupees, which was started by two boys about 12 years ago. Even before this, the company had a deal on the share, which was for $ 2.25 billion, after which companies like Tiger Global, TPG Tech Adjacencies, ChrysCap became its shareholder.
In such a situation, know how Dream 11 has earned billions of rupees on the basis of fantasy cricket and is going to become a company of about 30 thousand crores…
How was it started?
This application was started by two boys, named Harsh Jain and Bhevit Seth. Both of them started it in the year 2008 and the company became the most successful fantasy sports application in the country in a few years. Let me tell you that Harsh Jain had studied MBA from Columbia Business School and before that he started Red Digital and then worked on the idea of Dream 11. At the same time, Bhavit Seth is an engineer who has an MBA from Bentley University and studied engineering from Harvard. They work on the application to give users a good experience.
Initially he found it very difficult to pursue this startup and had to overcome many legal difficulties. Actually, it is like a bet, which is illegal in India. However, after a long battle, he started this application. The company claimed that there is no luck in it, but because of the skill of playing games, money is won. Although many gaming applications are now available in the market, which is working on Fantasy Sport, but Dream 11 is considered the king of this sector.
Crores of users use
Explain that the company received funding from Kalari Capital twice in 2015, which did not reveal much information. After this, in 2017, 2018, 2019 and 2020, the company also received funding from different places for crores of rupees. Now more than 75 million users have been associated with the company, who build their teams and earn money on it. It is said that the company also has funding of a Chinese app.
IPL was also sponsored
In the year 2018, the company made former Indian team captain Mahendra Singh Dhoni its brand ambassador. Also Dream 11 was the 'title' sponsor of IPL 2020, he acquired these rights by paying Rs 222 crore.