DREAM SPORTS FOUNDERS
FanCode renews L&M deal with ICC
FanCode Shop, the merchandising arm of Dream Sports-owned FanCode, renews exclusive licensing and merchandising partnership with ICC for ICC Men's T20 World Cup 2024 and ICC Women’s T20 World Cup 2024 in India.
Mad Influence and Star Sports-backed competition gets its second edition winner
Mad Influence and Star Sports launched the Star Sports Dream Job contest, won by Soumi Dey Sarkar, a national-level athlete in powerlifting and running.
The roving Indian: Rise of luxury sports tourism
The Paris Olympics and the T20 World Cup are not enough for India’s luxury sports tourists who seek unique experiences alongside the sporting events.
Indian sports fans are flying more to be where the action is
Indian sports fans are travelling the world to watch their favourite sporting events across categories like never before, buoyed by rising disposable incomes, travel companies said.
NCLAT asks IRP of Dream 11 not to take steps for insolvency
NCLAT ordered the IRP of Sporta Technologies, operator of Dream 11, to maintain the company as a going concern, halting insolvency steps during the CIRP stay by NCLT Mumbai bench, after an urgent plea by Dream11 COO Bhavit Sheth.
Hit it out of the field: From Nadella to Narayen, tech honchos pad up for 2nd season of MLC to take sport to masses in US
Major League Cricket (MLC), co-owned by Satya Nadella, Shantanu Narayen, and Vijay Shekhar Sharma, aims to make cricket mainstream in the US. It is also backed by Indian Premier League (IPL) teams and investors like Mukesh Ambani. MLC’s first season was held in July last year at the Grand Prairie Stadium near Dallas, Texas, and on the Church Street Park ground in Morrisville in North Carolina, generating $2.8 million in ticket sales and attracting more than 70,000 spectators. About 30% of the spectators had flown into Dallas just for the tournament.
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Mumbai emerging as preferred startup destination, say founders, investors
The financial capital's fast pace of infrastructure development and increasing access to capital and talent is attracting startup founders and investors.
NCLAT tells IRP to take no further steps in Dream11 insolvency; NCLT order stayed
The counsel appearing for the co-founder and COO of Dream11, Bhavit Seth, had requested that no further steps be taken in the insolvency resolution professional, as any action will adversely affect the company which is preparing for the upcoming IPL season.
NCLAT stays NCLT order in Dream 11 case, directs IRP not to take any step till Feb 23
The National Company Law Appellate Tribunal (NCLAT) has stayed the NCLT Mumbai bench's order to initiate a Corporate Insolvency Resolution Process (CIRP) against Sporta Technologies, the operator of the fantasy sports platform Dream11. The stay will remain in effect until the next hearing on February 23.
Rario reversal: Dream Sports-backed NFT marketplace abandons shutdown plan
The company announced on Thursday night via X that it will continue with “Rario’s current rewards program, allowing users to use their cards to play and trade on the marketplace
Rario users face losses as cricket NFT platform announces product shut down
Dream Sports-backed Rario in an X post on Tuesday night said it will shut its current product effective January 29 and relaunch in March and that its current cards “will not be usable in the upcoming platform”.
Paytm trims Q3 losses; Dream11 FY23 revenue grows 66%
Digital payments major Paytm on Friday said it has narrowed losses to Rs 222 crore for the quarter ended December, from Rs 392 crore a year ago and Rs 290 crore in the preceding quarter.
NFT platform Rario’s FY23 losses widen more than ten-fold to Rs 560 crore
Backed by real money gaming firm Dream Sports, Rario’s operating revenue grew to Rs 39 crore in FY23, compared to Rs 1 crore a year earlier
Dream Theatre eyes $5 million in retail sales from Maradona-branded merchandise
The company has secured the rights to launch the Maradona Consumer Products programme in India from Podium Icons, a division of Podium Brands Group in the UK.
DreamSetGo records 30% growth since the pandemic; facilitated 7500+ sports travelers in 2023
In 2023, DreamSetGo facilitated over 7500+ sports travelers across 14 global sporting events, a 30% increase since the pandemic. This indicates an increased appetite amongst sports travel and luxury experiences, the company said. ‘Revenge travel’ is a key factor to this demand. The insights are based on DreamSetGo’s booking and demand data between January 2023 - and December 2023.
FanCode looks to double its paid subscriber base in 2024: Co-founder Yannick Colaco
Dream Sports-owned sports streaming platform FanCode is aiming to double its paid subscriber base in 2024, according to a top company official. Yannick Colaco, co-founder of FanCode, revealed that the platform's user base grew by over five times in the last three years, and they anticipate a growth of over two times in their subscriber base in 2024 compared to 2023. FanCode received a $50 million funding from Dream Sports in 2021.
Dream Sports eyes diversification via investments, M&As to cope with tax blow
The company, which draws more than 90% of its revenue from the fantasy gaming platform Dream11, wants to expand into other adjacent streams through acquisitions to help protect its revenue and profit.
Inside Dream Sports diversification strategy; Delhi taxi ban’s impact on cab aggregators
Dream Sports, the largest real-money gaming company in India, is charting its diversification strategy and will now turn to more strategic bets and cease its VC-style bets. Dream Sports has been charting its diversification strategy for a few years now. This and more in today’s ETtech Morning Dispatch.
GST-hit gaming companies, VCs in a huddle to keep the lights on
Experts predict a major consolidation in the real-money gaming (RMG) industry in the near future, wherein 80% of the smaller companies will either shut down or get acquired by bigger rivals such as MPL, Dream11 and Games24x7.
ETtech in-depth: Rario collapse, tax woes bring curtains down on Dream Sports’ venture arm
Going ahead, Dream Sports will scout for companies that widen the group’s sports offerings and are more strategic in nature, according to people familiar with the change in strategy.
End of the road for Dream Capital; payment aggregator licence seekers under RBI scrutiny
Happy Friday! We have two exclusive newsbreaks! Dream Sports, which operates fantasy gaming platform Dream11, has decided to roll back its self-funded corporate venture arm which had a committed corpus of $250 million. This and more in today’s ETtech Morning Dispatch.
Dream11 acquires fantasy platform Sixer
Sixer founder Amay Makhija announced the acquisition to users of the platform in an email. The size of the deal or the strength of Sixer’s team is not known.
Fantasy sports platforms eye user base boost as IPL gathers pace
As per market estimates, the fantasy sports platforms could spend anywhere between ₹700 crore to ₹800 crore during the tournament.
The timeless value of Sachin Tendulkar: Fandom, dreams & Rs 1,250 crore
Sachin Tendulkar's fandom and the brand value still seem to be a giant sapling awaiting further growth. The unseen halo of Tendulkar is perhaps the brightest, emitting opportunities for brands that got associated with him. He is said to be a brand of a rare type of longevity, which marketed the dreams, hope and aspirations of generations. With a reportedly net worth of around Rs 1,250 crore now, Sachin is still the blue-eyed boy for the country and cricket lovers across the globe, commanding brand value that can probably never ripe.
BharatPe founder Ashneer Grover launches fantasy sports app Crickpe
Through Crickpe, which is a real-money gaming app, users of over 18 years of age will be able to create a virtual team of cricket players, and enter paid contests to earn cash prizes based on the players’ performance in real games. Users will also be able to participate in contests to win rewards.
Employees of this $8 bn startup are fined Rs 1,00,000 if they try to contact co-workers during vacation
In many cases employees are flooded with work-related calls even during holidays.
Top startup founders form grouping to push Mumbai tech ecosystem
The association TEAM, which has been registered as a not-for-profit entity, will hire professionals to work along with regulators, policymakers, and various government bodies.
Dream11 clocks Rs 180-crore profit in FY20
Dream11, which is run by Sporta Technologies, parent of Dream Sports, also saw its revenue increase by over 2.5 times to Rs 2,070.4 crore in FY20 from Rs 775.5 crore in FY19.
Dream Sports bags $840 million at $8 billion valuation
DST Global, D1 Capital come in as new investors as the sports tech firm wants to diversify beyond online fantasy gaming.
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