Mumbai based fantasy gaming sports platform, Dream11 has become the giant of the Indian Online fantasy gaming space after receiving the $100 million from Tencent. Company owners and childhood friends Harsh Jain and Bhavit Sheth came up with the idea of launching a fantasy sports league in 2009 and hoping to become a beast of the fantasy gaming world. The concept was taken from the foreign companies but for the first time in India where across billion people are crazy about cricket.
A Legally Tangled Concept
Dream 11 gone through a legal procedure where it was quoted under “The Game of Chance” but they fought it legally and proved that it is a “Game of skill” which initially helped the league to flourish in the country.
The valuation of dream11 took a flight from $700 million-$800 million after they proved the 5cr people’s database to the foreign investors and got a funding of $100 million.