As You Think So You Become
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Is Dream11 a Chinese firm? Know about company founder investors brand ambassadors like MS Dhoni
1. Dream11: Company details
Is Dream11 a Chinese firm? Well, the answer is no. For those are familiar with online gaming and picking up virtual fantasy XI, Dream11, a company worth Rs 736 crore, is not an alien name. It was founded by Harsh Jain and Bhavit Seth in 2012 and they are the pioneer in the field of fantasy sports in India. In 2019, they became the first Indian gaming company to enter the ‘Unicorn Club.'
2. The Investors in Dream11
In this section we can find the Chinese link of Dream11. They have multiple investors like Steadview, Kalaari Capital, Think Investments, Multiples Equity and Tencent, which incidentally is a Chinese firm. However, it is a minor stake. Tencent is world's largest gaming company and it is based in Shenzhen, China, and has about 10 per cent stakes in Dream11.
3. Dream11 controversy
A controversy had erupted in 2017 when the legality of Dream11 was challenged in High Court and later in the Supreme Court, alleging that it promoted betting. But the courts deemed the operations of Dream11 were centered around on skill, knowledge and attention, and allowed its functioning in the country.
4. Brand ambassadors of Dream11
MS Dhoni is their biggest brand ambassador. The platform has partnered with nine cricketers - Jos Buttler, Ben Stokes, Jonny Bairstow, Faf du Plessis, Quinton de Kock, Kagiso Rabada, Andre Russell, Jason Holder and Kane Williamson from the ICC World Cup 2019.
5. Other leagues Dream11 sponsors
The Dream11 has tied up with a number of high-profile leagues across sports around the world. They include: Caribbean Premier League, Indian Super League, National Basketball League (NBA), Pro Kabaddi League. Apart from it, they also have tie with the ICC, BBL, WBBL and International Hockey Federation.
6. How did Dream11 bag IPL 2020 sponsorship
The BCCI had to find a new sponsor for IPL 2020 after parting ways with Chinese smartphone major Vivo in view of the on-going India-China stand-off. Dream11 entered the fray along with Byjus, already the kit sponsor of Team India, Unacademy, an online learning platform. While Patanjali, company owned by Yoga guru Baba Ramdev, and Tata Sons picked up the expression of interest form, they did not enter the competition. Dream11 made a bid of Rs 222 crore, Byju's bid was Rs 201 crore while Unacademy the third with a Rs 171 crore bid.
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