Sports is not just a game but an emotion in India and around the world. Whether you are a player or an audience winning and loosing affects both the side.
But things changes when you play both the roles at the same time, in other words you can use a mobile phone application to set plot for the virtual players of the match using your expertise in it and decide whether it will be a win or lose. If everything is placed correctly then you could get some rewards as well.
The company’s early days
Credit: Google
Dream11, perhaps the most renowned fantasy sports application, was co-founded by Harsh Jain and Bhavit Sheth, who shared a passion for sports since their childhood. The Indian Premier League (IPL) served as a catalyst in fostering the burgeoning fantasy sports industry.
The duo recognized a lucid business opportunity and envisaged a profitable platform for sports enthusiasts to partake in fantasy leagues. Their vision was inspired by the vast number of cricket fans in India.
After completing his academic pursuits at the University of Pennsylvania and Columbia Business School, Harsh returned to India to explore a challenging conundrum in a fantasy game.
Despite facing ridicule from some, he rallied others to team up with him in devising a more efficient solution. A fellow alumnus from Harsh’s college, Bhavit Sheth, ultimately heeded the call to join the endeavor, making the group even more robust. Also read about Byju’s Raises 700 Billions at a Flat Valuation of 22 Billions
Regarding the inaugural members of Dream 11
Harsh Jain (Co-founder and CEO, Dream11)
Credit: Google
Harsh Jain, the CEO of Dream11, holds degrees from the University of Pennsylvania and Columbia Business School, having successfully launched and led the acquisition of Red Digital (a social media agency) by Gozoop prior to joining Dream11. Jain’s vision for Dream11 is to provide sports fans with engaging real-time modules, positioning him as the President of the Federation of Indian Fantasy Sports and Cultural Enforcement Officer (CEO) and Co-founder of Dream11.
Bhavit Sheth (Co-founder and COO, Dream11)
Credit: Google
Bhavit Sheth, the Chief Operating Officer of Dream11, holds a prestigious background as an Engineer with an MBA from Bentley University and a Diploma in E-commerce strategies from Harvard.
He co-founded Dream11 with Harsh in 2008 and continues to manage the company’s operations as COO. His unwavering commitment to operational excellence consistently delivers a trusted and user-focused experience throughout the company’s processes. Also read about India’s Biggest Startup Scam Ever
The operational approach adopted by Dream 11
Dream11 generates revenue solely through its fantasy gaming platform and does not rely on any advertising agencies such as Google ads.
In order to ensure a smooth and efficient user experience, the company decided to discontinue their use of Google AdSense. Interestingly, only 10% of Dream11’s users participate in paying contests which highlights the difficulty and cost of converting free users into paying ones.
It’s noteworthy that Dream11 was the first app in India to introduce a private fantasy gaming application, offering users the option of freemium, premium, and private methods of gaming to earn monetary rewards.
Dream11 imposes a commission of more than 20% on the total earnings in both big and small leagues, while other platforms, such as Halaplay or MyTeam11, apply significantly lower commissions or even no charge at all for private competitions.
Nevertheless, Dream11 remains popular due to the flexibility it provides in creating customized contests with personal preferences for, say, cricket teams.
However, it should be noted that Dream11 still requires a minimum commission of 20%, indicating that the platform generates revenue while users enjoy their gaming experience.
The revenue generated by Dream 11
Revenue model of the company is very simple and easy.
- Every level has their own fees and when a participant decide their level then the they pay the fees accordingly.
- Dream 11 earns a percentage of approximately 15-20% from the total pool when users receive earnings based on the real-time performance of their selected players.
Know more about “Ranked Among the Most Notable and Pioneering Female Entrepreneurs of India are These Top Five Exceptional Individuals”
The funding stages of the company
Credit: Google
To date, Dream11 has successfully secured nine rounds of funding, totalling approximately $1.62 billion as of November 25, 2021. Most recently, the funding round led by Falcon Edge, DST Global, D1 Capital, Tiger Global, and Redbird Capital, alongside TPG and Footpath Ventures, garnered an impressive $840 mn on November 24, 2021.
It is worth noting that Dream11 has secured investments from notable investors, including the Chinese investment giant, Tencent, which contributed $100 mn through a Series D funding round in September 2018.
Furthermore, Tencent Holdings has previously invested in several other prominent Indian startups, such as Practo, Hike, Flipkart, Ola, Gaana music app, and Newsdog content aggregator.
Prospective objectives of Dream 11
Credit: Google
Dream11, along with its parent company Dream Capital, is currently strategizing to extend its portfolio in sports, fan engagement, and fitness in India and beyond. As cricket is so famous and IPL is a celebrated cricket league, it will be interesting for the company’s future to bring new ideas and development.
Also read: Bob Penny a Forrest Gump Actor Died at the Age of 87