Startupedia

Dream11

Dream11 is an Indian fantasy sports platform operated by Sporta Technologies Private Limited, headquartered in Mumbai, Maharashtra. Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream11 allows users to create virtual teams of real-life players and earn points based on their performance in actual matches, with opportunities to win cash prizes. Initially focused on cricket, it has expanded to include football, kabaddi, basketball, hockey, volleyball, handball, and baseball. Dream11 is the flagship brand of Dream Sports, which also owns FanCode, a multi-sport aggregator platform. With over 230 million registered users as of 2023, Dream11 is India’s largest fantasy sports platform, holding a dominant position in the market.[1][2] It competes with Mobile Premier League, MyTeam11, and Fantasy Akhada.

Dream11
Dream11
Company typePrivate
IndustryFantasy sports, Online gaming
Founded2008; 17 years ago (2008)
Founder
  • Harsh Jain
  • Bhavit Sheth
HeadquartersMumbai, Maharashtra, India
Area served
India
Key people
  • Harsh Jain (CEO)
  • Bhavit Sheth (COO)
Products
  • Fantasy cricket
  • Fantasy football
  • Fantasy kabaddi
  • Fantasy basketball
  • Fantasy hockey
  • Fantasy volleyball
  • Fantasy handball
  • Fantasy baseball
Services
  • Fantasy sports contests
  • Daily cash prizes
  • Sports analytics
Revenue₹6,384 crore (US$766 million) (FY23)
Number of employees
501–1,000 (2024)
ParentDream Sports
Subsidiaries
  • FanCode
Websitewww.dream11.com

History

Dream11 was co-founded by Harsh Jain, son of businessman Anand Jain, and Bhavit Sheth, both childhood sports enthusiasts, with a vision to enhance fan engagement through fantasy sports. The platform launched in 2008, introducing freemium fantasy cricket in 2012.[3] It reported 1 million registered users in 2014, growing to 2 million in 2016, 45 million in 2018, and 230 million by 2023.[4] In April 2019, Dream11 became India’s first fantasy sports unicorn after a secondary investment from Steadview Capital, with a valuation of US$8 billion by November 2021.[5] In 2019, it launched FanCode, an ad-free sports content and commerce platform.[6]

In 2020, Dream11 secured the title sponsorship for the Indian Premier League (IPL) for ₹222 crore (US$30 million) after Vivo’s exit, and in 2023, it became the lead jersey sponsor for the Indian national cricket team for ₹358 crore (US$43 million) until March 2026.[7][8] The platform faced legal challenges, notably a 2017 High Court case, which ruled that Dream11 involves skill, not gambling, a decision upheld by the Supreme Court of India. Operations were briefly suspended in Karnataka in 2021 due to a gambling ban but resumed in 2022 after the ban was lifted.[9]

Business Model

Dream11 operates a freemium model, offering both free and paid fantasy sports contests. Users create virtual teams of real players within a 100-credit budget, earning points based on players’ real-match performances. The platform generates revenue through entry fees for paid contests, retaining 15% as a platform fee, with the remainder distributed as prize money.[10] Additional revenue comes from in-app advertisements and partnerships with sports leagues like the IPL, ICC, and NBA.[11] Features like the “Champions Club” and “Rewards Shop” enhance user engagement, while the “Responsible Play” policy promotes safe gaming.[12]

Funding

Dream11 has raised over US$1.6 billion across multiple funding rounds.[13] Below is a table of its major funding rounds:

Year Date Amount (US$) Investors Valuation (US$)
2015 February 3 million Kalaari Capital -
2016 July 15 million Kalaari Capital -
2018 March 100 million Tencent -
2019 April 60 million Steadview Capital 1.5 billion
2020 September 225 million Tiger Global Management, TPG Capital, Footpath Ventures 2.5 billion
2021 November 400 million Alpha Wave Global, DST Global, RedBird Capital 8 billion
2022 January 850 million Falcon Edge Capital, DST Global, D1 Capital, RedBird Capital 8 billion

Legal Entity Details

Dream11 operates under Sporta Technologies Private Limited, a private limited company incorporated in India. Below is a table summarizing key legal entity details:[14][15]

Attribute Details
Company Name Sporta Technologies Private Limited
Incorporation Date April 29, 2008
Registered Location Mumbai, Maharashtra, India
Corporate Identification Number (CIN) U72900MH2008PTC181587
GST Number 27AAOCS8734Q1Z6
Authorized Share Capital ₹10 crore
Paid-up Capital ₹8.5 crore
Number of Employees 501–1,000 (as of 2024)
Registered Address ONE BKC, Tower A, 12th & 14th Floor, Unit 1201 & 1202 and 1401 & 1402, Plot C-66, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, India – 400051
Directors Harsh Jain, Bhavit Sheth, Anand Jain
Parent Entity Dream Sports
Subsidiaries FanCode

Acquisitions and Investments

Dream11 has made strategic investments:

  • FanCode (2019) – Launched as a multi-sport aggregator platform for content, commerce, and community engagement.[16]
  • DreamSetGo (2020) – Invested in a premium sports travel and experiences platform.[17]

Market Position and Competitors

Dream11 holds a dominant position in India’s fantasy sports market, driven by its focus on cricket and partnerships with major leagues like the IPL, ICC, Pro Kabaddi League, and NBA.[18] It competes with Mobile Premier League, MyTeam11, and Fantasy Akhada. Concerns about fairness, including allegations of bot-generated teams and AI manipulation, have been raised, though Dream11 emphasizes transparency and compliance.[19]

Challenges

Dream11 faced legal scrutiny in 2017 when a High Court case questioned its legitimacy. The court ruled it a “game of skill,” a verdict upheld by the Supreme Court of India, exempting it from the Public Gambling Act, 1867.[20] However, fantasy sports remain restricted in states like Assam, Telangana, and Andhra Pradesh.[21] In 2021, Karnataka temporarily banned online gambling, leading to a suspension of operations, which resumed in 2022 after the ban was lifted.[22] Privacy concerns and potential data breaches have also been noted, with Dream11 addressing these through AWS security tools like AWS Shield and AWS Web Application Firewall.[23]

References

  1. ↑ "Play Fantasy Sports & Win Cash Prizes on Dream11 App". Dream11. Sporta Technologies Private Limited. 20 March 2025. Retrieved 18 April 2025.
  2. ↑ "Dream11 "Makes Sports Better" with 200 Million Users on AWS". AWS. Amazon Web Services. 21 February 2022. Retrieved 18 April 2025.
  3. ↑ "Dream11 Story: Setting Down the Success of India's Best Fantasy Gaming Application". StartupTalky. StartupTalky. 9 February 2025. Retrieved 18 April 2025.
  4. ↑ "Dream11 "Makes Sports Better" with 200 Million Users on AWS". AWS. Amazon Web Services. 21 February 2022. Retrieved 18 April 2025.
  5. ↑ "Dream11 becomes India's first gaming unicorn with Steadview investment". The Economic Times. Bennett, Coleman & Co. Ltd. 10 April 2019. Retrieved 18 April 2025.
  6. ↑ "Dream11 Story: Setting Down the Success of India's Best Fantasy Gaming Application". StartupTalky. StartupTalky. 9 February 2025. Retrieved 18 April 2025.
  7. ↑ "IPL 2020: Dream11 bags title sponsorship rights for Rs 222 crore". The Hindu BusinessLine. The Hindu Group. 19 August 2020. Retrieved 18 April 2025.
  8. ↑ "Dream11 replaces Adidas as Indian cricket team's lead sponsor". Livemint. HT Media. 1 July 2023. Retrieved 18 April 2025.
  9. ↑ "Karnataka HC quashes complaint against Dream11, allowing resumption of operations". The Hindu. The Hindu Group. 14 February 2022. Retrieved 18 April 2025.
  10. ↑ "Dream11 Story: Setting Down the Success of India's Best Fantasy Gaming Application". StartupTalky. StartupTalky. 9 February 2025. Retrieved 18 April 2025.
  11. ↑ "Dream11 "Makes Sports Better" with 200 Million Users on AWS". AWS. Amazon Web Services. 21 February 2022. Retrieved 18 April 2025.
  12. ↑ "Dream11: Fantasy Cricket App – Apps on Google Play". Google Play. Google LLC. 4 April 2025. Retrieved 18 April 2025.
  13. ↑ "Dream11 - 2025 Company Profile, Funding & Investors". Tracxn. Tracxn Technologies Limited. 15 March 2025. Retrieved 18 April 2025.
  14. ↑ "Dream11 - 2025 Company Profile, Funding & Investors". Tracxn. Tracxn Technologies Limited. 15 March 2025. Retrieved 18 April 2025.
  15. ↑ "Privacy Policy". Dream11. Sporta Technologies Private Limited. 24 December 2019. Retrieved 18 April 2025.
  16. ↑ "Dream11 Story: Setting Down the Success of India's Best Fantasy Gaming Application". StartupTalky. StartupTalky. 9 February 2025. Retrieved 18 April 2025.
  17. ↑ "Dream Sports". Dream Sports. Dream Sports. 16 June 2021. Retrieved 18 April 2025.
  18. ↑ "Dream11 "Makes Sports Better" with 200 Million Users on AWS". AWS. Amazon Web Services. 21 February 2022. Retrieved 18 April 2025.
  19. ↑ "Dream11 company information, funding & investors". Dealroom. Dealroom.co. 31 December 2020. Retrieved 18 April 2025.
  20. ↑ "Legality". Dream11. Sporta Technologies Private Limited. 24 December 2019. Retrieved 18 April 2025.
  21. ↑ "Dream11 Story: Setting Down the Success of India's Best Fantasy Gaming Application". StartupTalky. StartupTalky. 9 February 2025. Retrieved 18 April 2025.
  22. ↑ "Karnataka HC quashes complaint against Dream11, allowing resumption of operations". The Hindu. The Hindu Group. 14 February 2022. Retrieved 18 April 2025.
  23. ↑ "Dream11 "Makes Sports Better" with 200 Million Users on AWS". AWS. Amazon Web Services. 21 February 2022. Retrieved 18 April 2025.

External Links

  • Official website
  • Dream11 on Twitter
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