Dream11 is an Indian fantasy sports platform[5] that allows users to play fantasy cricket, hockey, football, kabaddi, handball, basketball, volleyball, rugby, futsal, American football and baseball.[6][7][8] In April 2019, Dream11 became the first Indian fantasy sport company to become a unicorn.[9]

Dream11
TypePrivate
IndustryFantasy sports
Founded2008; 14 years ago (2008)
Founders
  • Harsh Jain
  • Bhavit Sheth
Headquarters
Area served
India
RevenueIncrease 2,070 crore (US$260 million) (FY 2019–20)
Increase 181 crore (US$23 million) (FY 2019–20)[1]
OwnersSporta Technologies Pvt Ltd[2]
Number of employees
800+ (September 2022)
ParentDream Sports[3][4]
Websitewww.dream11.com

HistoryEdit

Dream11 was co-founded by Harsh Jain (son of Indian businessman Anand Jain) and Bhavit Sheth in 2008.[10][11][12][13] In 2012, they introduced freemium fantasy sports in India for cricket fans.[13] In 2014, the company reported 1 million registered users, which grew to 2 million in 2016 and to 45 million in 2018.[14][15] In April 2019, Steadview Capital completed secondary investment in Dream11. Apart from Steadview, Dream11's investors included Kalaari Capital, Think Investments,[16] Multiples Equity and Tencent.[9] In April 2019, they launched FanCode, an ad-free multi-sport aggregator platform offering content, commerce and community engagement.[17] In 2021, Dream 11's parent company, Dream Sports raised $840 million in a funding round led by Tiger Global, D1 Capital, Falcon Edge, DST Global, and Redbird Capital.[18]

LegalityEdit

In 2017, a case was registered against the company in an Indian High Court. The court, in its ruling, stated that playing the Dream11 game involves superior knowledge, judgement and attention. The Court also held that "the element of skill" had a predominant influence on the outcome of the Dream11 game. However, the law does not allow fantasy sports in a few Indian states like Assam, Odisha, Telangana[19] and Andhra Pradesh.[20] A challenge to this judgement was filed with the Supreme Court of India, which dismissed the appeal.[21] The judgement provided legality[22] to the company and allowed them to run their operations throughout the country.[23]

Despite it being adjudged to be a "game of skill", experts believe that the company operates in the country's regulatory "grey area".[24][25]

PartnershipsEdit

In 2017, the company partnered with three leagues within cricket, football and basketball. Dream11 became the Official Fantasy Partner for Caribbean Premier League, Indian Super League[26] and US professional basketball league National Basketball Association (NBA).[5] Later in the year, they partnered with the Indian Super League as their official Fantasy Football Partner.[27][28] In November 2017, the NBA, launched a fantasy basketball game in association with Dream11 and launched their official NBA fantasy game on their platform.[29][30]

In 2018, Dream11 announced its partnership with ICC (International Cricket Council),[31] Pro Kabaddi League,[32] International Hockey Federation (FIH),[33] WBBL and BBL.[34] In 2018, through the above partnership, Dream11 introduced two new games on their platform viz., kabaddi and hockey.

In October 2019, New Zealand Cricket (NZC) announced Dream11 as the title sponsor for the Super Smash domestic Twenty20 competition.[35] In January 2021, this partnership was extended for another six years until 2026.[36]

On 18 August 2020, Dream11 won the title sponsorship rights for the 2020 Indian Premier League for 222 crore (US$29.96 million), after Vivo pulled out for the season.[37]

FinancialEdit

Year Revenue (In crores) Profits/Loss (In crores) Source
FY 2018   224.6   -65.1 [38]
FY 2019   775.4   -131.6
FY 2020   1,670.1   104.01 [39]
FY 2021   2,554.4   327.1

Brand ambassadorsEdit

The company had first signed commentator Harsha Bhogle as their brand ambassador in 2017.[40]

Cricketer Mahendra Singh Dhoni was the brand ambassador of Dream11 and launched the "Dimaag se Dhoni" media campaign during the 2018 Indian Premier League.[41]

In 2019, Dream11 signed up seven cricketers and partnered with seven Indian Premier League franchise as part of its multi-channel marketing campaign.[42]

In March 2022, Dream11 announced actors Kartik Aaryan and Samantha Ruth Prabhu as their brand ambassadors. This was the first time that the company roped in celebrities outside of sports as their ambassadors.[43] Dream11 also has Rohit Sharma, Rishabh Pant, Shikhar Dhawan, Hardik Pandya, Shreyas Iyer and Jasprit Bumrah as their cricket ambassadors.[44][45]

FormatEdit

Dream11 provides a fantasy gaming platform for multiple sports such as fantasy cricket, football, basketball, kabaddi, hockey, volleyball, handball and baseball. It is an online game where users create a virtual team of real-life players and earn points based on the performances of these players in real matches.[46] A user who scores the maximum points in their joined contests attains the first rank on the leader-board. Dream11 offers free and paid contests. A user has to pay a certain fee to join a contest and can win real cash.[47] To participate in a Dream11 game, a user must be at least 18 years old and needs to get their profile verified using their PAN.[48]

ReferencesEdit

  1. ^ "Fantasy sports platform Dream11 posts Rs 181 crore profit in FY20". Moneycontrol. Retrieved 6 May 2022.
  2. ^ www.thecompanycheck.com. "SPORTA TECHNOLOGIES PRIVATE LIMITED - Company Details". The Company Check. Retrieved 24 March 2022.
  3. ^ Laghate, Gaurav. "Dream Sports' FanCode launches fan merchandise store" – via The Economic Times.
  4. ^ James, Nandana. "Dream11 is a proud homegrown brand, says Harsh Jain". @businessline.
  5. ^ a b Gooptu, Biswarup (19 April 2018). "Internet giant Tencent in advanced talks to invest $100 million in Dream11". The Economic Times. Retrieved 24 April 2018.
  6. ^ "How to setup your Dream11 app and earn money during this IPL 2018". The Indian Express. 13 April 2018. Retrieved 24 April 2018.
  7. ^ "FoxyMoron bags the digital mandate For Dream11 - ET BrandEquity". ETBrandEquity.com. Retrieved 24 April 2018.
  8. ^ Release, ANI Press (31 May 2022). "Dream11 partners with Sportskeeda to launch new 'Dream Big' stories". www.business-standard.com. Retrieved 10 August 2022.
  9. ^ a b "Steadview investment catapults Dream11 into Unicorn league". ETtech.com. Retrieved 10 April 2019.
  10. ^ www.tofler.in. "Dream11 Gaming Zone Llp - Check Registration & Partner Details Online". Tofler. Retrieved 29 January 2021.
  11. ^ "Fantasy sports unicorn Dream11 raises $225 million: Details here". Yahoo. Archived from the original on 3 February 2021. Retrieved 29 January 2021.
  12. ^ "Create a dream team". Bangalore Mirror. 28 January 2010. Retrieved 29 January 2021.
  13. ^ a b Vaidya, Jaideep. "Game of skill in a regulatory grey area: How Dream 11 and premium fantasy sport is booming in India". Scroll.in. Retrieved 7 February 2019.
  14. ^ "Outlook India". Retrieved 24 April 2018.
  15. ^ Laghate, Gaurav (23 March 2018). "How fantasy sports is becoming a multi-billion dollar business globally". The Economic Times. Retrieved 24 April 2018.
  16. ^ "Dream11 valuation to double to $2.5bn after $225M round". indiatimes.com. Retrieved 15 September 2020.
  17. ^ "Dream11 launches multi-sports aggregator platform FanCode - The Economic Times". The Economic Times. Retrieved 15 June 2022.
  18. ^ "Dream11 parent Dream Sports bags $840 million funding at $8 billion valuation". Moneycontrol. Retrieved 21 September 2022.
  19. ^ "Telangana's Gaming act forbids fantasy cricket game Dream11". 21 June 2017.
  20. ^ "Banned Announcement". Dream 11. Retrieved 29 September 2020.
  21. ^ "Fantasy sports see an uptick with paid users, legal clarity during IPL - Times of India". The Times of India. Retrieved 24 April 2018.
  22. ^ Chengappa, C. C. (13 October 2021). "Which states have banned Dream11 in India?". thebridge.in. Retrieved 11 June 2022.
  23. ^ "SC rejects appeal to initiate criminal action against Dream11, does this end the debate on fantasy sports legality? - Gambling Laws". glaws.in. Retrieved 24 April 2018.
  24. ^ Vaidya, Jaideep. "Game of skill in a regulatory grey area: How Dream 11 and premium fantasy sport is booming in India". Scroll.in.
  25. ^ Singh, Kuwar. "A fantasy sports startup has entered the unicorn club thanks to India's IPL fever". Quartz India.
  26. ^ "IPL media rights tender live: Dream11 Fancode follows Amazon, pulls out of bidding race". 11 June 2022. Retrieved 11 June 2022.
  27. ^ "Dream11 ropes in Happy mcgarrybowen for rebranding". The Drum. Retrieved 24 April 2018.
  28. ^ "Tencent eyes $100 Mn investment in Fantasy sports platform Dream11". Entrackr. 19 April 2018. Retrieved 24 April 2018.
  29. ^ "Dream11 selects FoxyMoron to strengthen digital presence". www.televisionpost.com. Retrieved 24 April 2018.
  30. ^ "NBA and Dream11 to bring fantasy basketball to India". Indian Television Dot Com. 2 November 2017. Retrieved 24 April 2018.
  31. ^ Laghate, Gaurav (14 November 2018). "Dream11 becomes ICC's fantasy game partner". The Economic Times. Retrieved 22 November 2018.
  32. ^ "Startup Street: How Dream11 Is Cashing In On India's Growing Love For Fantasy Sports". BloombergQuint. Retrieved 22 November 2018.
  33. ^ "FIH announces a first-of-its-kind partnership with India's biggest sports game Dream11 | FIH". www.fih.ch. Retrieved 19 December 2018.
  34. ^ "Dream11 announces partnership Australia's BBL". Business Standard India. 14 December 2018. Retrieved 19 December 2018.
  35. ^ "Welcome to the Dream11 Super Smash". NZC. Retrieved 2 October 2019.
  36. ^ "DREAM11 signs up with New Zealand Cricket for another six years". NZC. Retrieved 31 January 2021.
  37. ^ "IPL title rights: Dream11 make three-year winning bid of approx Rs 230 crore per year". The Times Of India. 18 August 2020. Retrieved 18 August 2020.
  38. ^ Tyagi, Gaurav (21 November 2019). "Dream11 revenue records 3.5X jump in FY19, spent Rs 785 Cr on Ad & promotion". Entrackr. Retrieved 27 June 2022.
  39. ^ Tyagi, Gaurav; Vardhan, Jai (5 April 2022). "Dream11 posts Rs 327 Cr profit in FY21; revenue grows 53%". Entrackr. Retrieved 27 June 2022.
  40. ^ "Dream11 releases new TVC #KheloDimaagSe with brand ambassador MS Dhoni".
  41. ^ "Dhoni becomes brand ambassador of gaming platform". The Times Of India. 6 March 2018.
  42. ^ "Dream11 signs up with 7 IPL teams and 7 cricketers for marketing campaigns - Exchange4media". Indian Advertising Media & Marketing News – exchange4media. Retrieved 10 April 2019.
  43. ^ Online, BrandWagon (24 March 2022). "Dream11 brings Kartik Aaryan and Samantha Prabhu as brand endorsers". Financialexpress. Retrieved 29 July 2022.
  44. ^ www.ETBrandEquity.com. "Dream11 urges cricket fans to dream big in new campaign - ET BrandEquity". ETBrandEquity.com. Retrieved 9 August 2022.
  45. ^ "Dream11's latest campaign features Rohit Sharma, Rishabh Pant, Hardik Pandya, Jasprit Bumrah, and Shikhar Dhawan". Business Insider. Retrieved 9 August 2022.
  46. ^ "Play game on Dream11 app and earn money". Rajasthan Patrika. Retrieved 24 April 2018.
  47. ^ "Leo Burnett Orchard wins the creative duties of Dream11". www.bestmediaifo.com. Retrieved 24 April 2018.
  48. ^ "Dream11 Turned Fantasy (gaming) Into Reality. Now It's Eyeing A Diversified Sports Tech Future". Forbes India. Retrieved 11 June 2022.

External linksEdit