Online Sports / Dream 11 becomes the country’s first gaming company with $ 1 billion valuation
Dream 11 founder Harsh Jain (left) and Bhavit Seth
Mumbai. The online gaming firm Dream 11 has become the country’s first gaming unicorn. Unicorn is called companies whose value is at least 1 billion dollars (7,000 million rupees). After getting the second round investment from hedge fund SteadyView Capital, Dream 11’s valuation has been more than that. The company gave this information on Tuesday.
Mahendra Singh Dhoni is Dream 11’s Brand Ambassador
Dream 11 users can play games online by making their teams for different games. Dream 11 is a partnership with sports organizations like the International Cricket Council and the National Basketball Association. According to a report, Dream 11 has 90% share in the country’s Fantasy Sports Market. Mahendra Singh Dhoni is Dream 11’s brand ambassador.
Expected to reach user number 10 million by the end of this year
Dream 11 investors include Chinese multinational investment firm Tensent Holdings. Dream 11 has more than 50 million users. By the end of this year, the company is expected to reach the figure of 10 million. In 2008, Harsh Jain and Bhavit Seth started it.
According to a report in April last year, Dream 11 had to face legal conflicts. Dream 11 was challenged in the court, considering fantasy gaming as gambling. But, the court said that it involves not a choice but a skill.