TATIN BHOWMICK, 15TH APRIL: DREAM 11 Fantasy sports APP (also called eSport) is suddenly HIT like a Firestorm. From a few firms until a couple of years past, there are a unit associate calculable sixty fantasy sports platforms in Bharat at the present. Capital is gushing in, together with from outstanding, international VCs. And, Bharat got its 1st vice unicorn this week – Dream11 – the Tencent-backed fantasy sports startup that’s now valued at $1.1 billion when its latest fund-raise from Steadview Capital. This gaming app became a brand…
We research on Dream11, there chief operating officer and co-founder Harsh Jain and his recently appointed CMO Vikrant Mudaliar concerning the story thus far – and also the challenges ahead.
While researching this story plan, we tend to did a touch informal poll in workplace to envision what number individuals had sampled native fantasy play platform Dream11, and were stunned to search output that our most crucial worker – the 20-something larder boy – may be a regular player, the sort that is aware of hacks and such.
In India, you recognize you’ve got arrived after you penetrate the population. And once their area unit stats to prove it: The Dream11 team claims that the platform has 45+million users. In associate ‘Android country’ like India, for the associated app to succeed in this count despite its absence on the Google Play Store is incredible.
Dream11, the product of fantasy gamers, soccer fans and childhood buddies Harsh Jain (33, chief executive officer and co-founder) and Bhavit Sheth (33, chief in operation officer and co-founder), was launched a decade back and is headquartered in the city. Dream11 employs around 185 individuals. both Jain and Sheth have a background in engineering and business administration.
Jain was promoting manager at Jai business firm (steel, plastic producingcompany); Sheth was a financial analysis intern at associate IT company, before initiation Dream11.
“I had already tried my hand at fantasy football and was looking for options for cricket in India. It didn’t exist, so I decided to start it,” says Jain, talking about the inception.
The most feasible ‘partner options’ for the project were friends and family. “I have known Bhavit since I was seven. He opted in while I was asking around and that’s how I got a partner to start out with,” he recalls.
Dream11 presently occupies 90% of the domestic fantasy sports market, in line with a joint report by the Indian Federation of Sports vice (IFSG) and KPMG. Sector consultants believe its success can inspire additional entrepreneurs to examinefantasy vice as a ascendable business proposition. This can provide monetization opportunities going ahead, even though paid players are a unit regarding fifteen percent of Dream11’s overall user base of fifty one million.
But, that may be dynamical with fantasy vice changing into additional and additional competitive by the day, with higher money rewards at stake. whereas the trend started with cricket coinciding with the launch of the Indian Premier League (IPL) in 2008, currently there’s an array of sports to settle onfrom: soccer, hockey, kabaddi, carrom, pool, badminton.
The market is projected to touch $5 billion within thenext 2 years. IFSG says 2 out of 3 sports fans in Bharat area unit alert to fantasy vice these days, and an estimated a hundred million will go for one or additional of the platforms/apps by the top of 2019.