Asia

Dream11 Joins the Indian Unicorn Club

Published

6 years ago

April 29, 2019

Niji Narayan

Falcon Edge, DST Global, D1 Capital and RedBird Capital lead $840 Million investment in Dream Sports at $8 Billion valuation

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Dream11, the Mumbai-based fantasy gaming startup, has joined the Indian unicorn club, with an investment from Steadview Capital.

The deal involves a secondary sale of shares by Kalaari Capital, Think Investments and Multiples Equity.

The company has grown at a CAGR of 230% in the last three years, but took three years to hit its first million gamers mark but after that crossed 3 Mn users in less than two months in 2016. No wonder, its co-founder and COO, Bhavit Sheth, is fond of saying that “It takes 10 years to build an overnight success.”

“We are excited to welcome Steadview Capital onboard. Our exponential growth over the past few years would not have been possible without the support and trust of our investors and Dreamsters (employees). We will keep working hard and are targeting to end the year with 100 Mn users,” Harsh Jain, CEO and cofounder, Dream11 said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.