Naspers in talks to invest upto $100 Million in Mumbai-based Dream11

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

South African internet group Naspers, is reportedly, in talks to buy a stake for about $100 million (approx ₹713 crore) in Dream11, a Mumbai-based fantasy sports platform, from Kalaari Capital, Think Investments, and Multiples Alternate Asset Management, reported Livemint, citing various sources.   

The above cited sources further revealed that Dream11 is now seeking a valuation of $2.5 billion, more than double the $1.1 billion it was valued at in April 2019.

“Dream11 does not need to raise a large round, but has significant inbound interest from investors. When these companies are growing fast, they prefer having a diversified set of investors and such secondary rounds give the founder the valuations they want and give early investors exit at good multiples,” said an anonymous investor.

Founded by Harsh Jain and Bhavit Sheth in 2012, Dream11 provides a platform for sports fans to showcase their knowledge in various fantasy sports like cricket, football, kabaddi, and NBA, to win some real cash. The platform engages fans to create a comprehensive gaming platform by enabling deeper connections.

The gaming platform claims to more than 4 crore users playing different fantasy sports.

The anonymous investor further said that the company is nearing profitability, and saw the value of transactions on its platform rise to a run rate of $2 billion for the last quarter, translating to a revenue of about $150 million.

Dream11 had about 50 million subscribers in February and is looking to double the number by the end of the year.

Besides Dream11, other online gaming platform include Nazara TechnologiesSportsKeedaQunamiHalaPlayPaytm First gamesBalleBaaziGames2Win, and many more.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Turkish military ops in Syria ‘unacceptable’, says Italy

Rome, Oct 17 (IANS/AKI) Turkey's week-old military offensive in northeast Syria is unacceptable and must be halted, Italy's Premier...

Triage bay facility launched in Hyderabad hospital

Hyderabad, Oct 17 (IANS) SLG Hospitals, a leading healthcare facility, on Thursday announced the inauguration of best-in-class 'Triage bay' in the trauma section of...

‘Turkish President Erdogan binned Trump’s letter on Syria’

Istanbul, Oct 17 (IANS) Turkish President Recep Tayyip Erdogan put US President Donald Trump's letter, asking him not to "be a tough guy" or...

Optimism over Indore investment summit (Lead)

Indore, Oct 17 (IANS) Can Chief Minister Kamal Nath dispel the pervading cynicism over big ticket investments in Madhya Pradesh? The strike rate of...

Dhankhar gets Z catgory security, Trinamool criticises move

Kolkata, Oct 17 (IANS) The continuing friction between West Bengal's Mamata Banerjee government and Governor Jagdeep Dhankhar intensified on Thursday with the Centre deploying...
- Advertisement -

More Articles Like This