Dream Sports
Overview
Dream Sports is a leading sports technology company based in India, founded in 2008 by Harsh Jain and Bhavit Sheth. The company is renowned for its flagship fantasy sports platform, Dream11, which allows users to play daily fantasy sports contests in various sports, including cricket, football, and basketball. Over the years, Dream Sports has expanded its portfolio to include brands like FanCode, DreamSetGo, and Dream Game Studios. As of 2024, Dream Sports was valued at approximately $8 billion and had grown its user base to over 280 million registered users.
Recent Developments
- August 2025: Following the passage of the Promotion and Regulation of Online Gaming Bill 2025 by the Indian Parliament, Dream Sports has halted all its real-money gaming operations, which accounted for over 90% of its revenue. This includes all paid contests on Dream11. The company is now pivoting towards other verticals, such as FanCode, DreamSetGo, and Dream Game Studios.
- July 2025: Dream Sports announced a strategic collaboration with Microsoft to develop AI-driven gaming solutions, aiming to expand its reach in India's rapidly growing gaming market. This partnership will focus on integrating Microsoft’s AI expertise into Dream Sports’ offerings.
- April 2025: The company launched a new app, Dream Money, entering the financial services sector. Dream Money offers services such as gold investments, fixed deposits, and expense tracking.
- March 2025: Dream Sports completed its reverse migration to India under the 'Ghar Waapsi' movement, aligning its operations more closely with Indian regulations and reducing compliance burdens.
- January 2025: In response to changes in tax policy and the introduction of a 28% GST on gaming transactions, Dream Sports reported a significant decline in revenue projections for the following fiscal year.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2008 |
| Headquarters | Mumbai, India |
| Founders | Harsh Jain, Bhavit Sheth |
| Revenue | ₹9,600 crore in FY24 |
| Profits | ₹188 crore in FY23 |
| Key Investors | Tiger Global, ChrysCapital, Multiples, TCV |
| Industry | Sports Technology |
| Number of Employees | Approximately 1,253 |
Early History
Dream Sports was founded in 2008 by Harsh Jain and Bhavit Sheth, who were passionate about sports and entrepreneurship. The company started as a fantasy sports platform, offering cricket fans in India a unique way to engage with the game by creating virtual teams and competing based on real-life player performances. In its initial years, Dream11, the main platform of Dream Sports, operated in a regulatory grey area, often navigating complex legal challenges that classified fantasy sports differently across various Indian jurisdictions. Despite these challenges, by 2014, the platform had gained significant traction, reaching a user base of 1 million and becoming the first Indian fantasy sports company to offer multiple sports beyond cricket.
Company Profile and Achievements
Dream Sports operates a diverse range of brands aimed at enhancing fan engagement and promoting sports in India:
- Dream11: The flagship platform and the world's largest fantasy sports platform, with over 280 million users. It achieved unicorn status in 2019 and has been a key sponsor for various cricket leagues, including the Indian Premier League (IPL).
- FanCode: Launched as a premier sports destination providing fans with sports content, commerce, and statistics. It aims to offer personalized experiences across various sports.
- DreamSetGo: A platform for premium sports travel and experiences, offering curated sports travel packages for major events worldwide.
- Dream Game Studios: A game development unit focused on creating immersive gaming experiences.
- Dream Sports Foundation (DSF): The philanthropic arm focusing on the development of sports in India through various grassroots initiatives.
Significant milestones for Dream Sports include its rapid user base growth, strategic partnerships with sports bodies, and expansion into new sectors such as financial services with the launch of the Dream Money app.
Current Operations and Market Position
In the current landscape, Dream Sports is focusing on diversifying its business model beyond real-money gaming due to regulatory changes. The company's future growth is expected to hinge on its ability to leverage new technological partnerships, such as the one with Microsoft, and expand its presence in non-monetary gaming sectors. With a robust user base and a diversified portfolio, Dream Sports remains a pivotal player in India's sports technology market, although it faces significant challenges due to recent legislative changes.
Conclusion
Dream Sports has been a transformative force in the Indian sports and gaming sectors, from pioneering fantasy sports to navigating complex regulatory landscapes. As it transitions away from real-money gaming, the company is poised to leverage its technological partnerships and diversified offerings to sustain growth. The shift to focus on free-to-play models, sports media, travel experiences, and financial services could redefine its market position, offering new engagement avenues for sports enthusiasts across the country and potentially beyond. Dream Sports' ability to adapt and innovate will be crucial for its continued success in the evolving sports technology landscape.