Dream11 has been a partner of the IPL for several years now.
About Dream11:
Dream11 is India’s largest website for sports gaming with 7 Crore+ users playing Fantasy Cricket, Football, Kabaddi, Basketball & Hockey. It is a Game of Skill that provides a forum for Indian sports fans to demonstrate their sporting expertise. Fans can create their team from upcoming matches made up of real-life players, score points based on their on-field performance, and compete with other fans. In being a team member, not just a spectator, Dream11 helps sports fans improve their involvement and interact more profoundly with the sport they love. Dream11 is the VIVO Indian Premier League (VIVO IPL), International Cricket Council (ICC), VIVO Pro Kabaddi League (PKL), Hero Indian Super League (ISL), National Basketball Association (NBA), Hero Caribbean Premier League (CPL), International Hockey Federation (FIH), Big Bash League (BBL), European Cricket League (ECL), European T20 Slam, Official Fantasy Game Partner. Premier League Karnataka (KPL) and Mumbai League T20. Dream11 became the first Indian gaming company to join the ‘Unicorn Club’ in April 2019. In 2008, Harsh Jain and Bhavit Sheth formed a Series D funded company, Dream11. In 2018, Dream11 was ranked # 9 among India’s Great Mid-Size Workplaces and was recognized by Fast Company as one of India’s top 10 innovative companies in 2019. The marquee investors in Dream11 are Kalaari Capital, Think Investments, Multiples Equity, Tencent, and Steadview Capital.
Dream 11 Become IPL 2020 Title Sponsor
The Indian Cricket Control Board (BCCI) revealed on Tuesday that Dream 11 would be the official sponsors for the upcoming Indian Premier League.
On Tuesday, the fantasy gaming platform Dream11 won the sponsorship rights of the IPL title with a Rs 222 crore bid, replacing Chinese cell phone company Vivo for a four-and-a-half month contract. Dream11 has been a partner of the IPL for several years now.
We got to know that the Tata group of multinational conglomerates did not place a final bid while two educational technology firms — BYJUs (201 crores) and Unacademy (170 crores) — came in second and third.
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Instead of the border stand-off between India and China, Vivo and the BCCI have suspended a Rs 440 crore contract per year for this season. The IPL begins in UAE on September 19, heading out of India this year because of the COVID-19 pandemic.
There are some concerns regarding the investment of Chinese company Tencent in Dream11, but one of the private development insiders of BCCI said it was less than 10 percent.
Dream11 and FanCode are part of Dream Sports group: Inquiry against the organization
Dream11 is an Indian corporation created by Harsh Jain and Bhavit Sheth “The Dream11 stakeholders, including its creators and all 400 plus employees, are Indian,” a source from the BCCI said.
Its Indian creditors are Kalaari Capital and Multiple Equity.
The Dream11 product is only available for use by Indians. Tencent has only a single-digit percentage minority share, the official added.
Nevertheless, as recently as last month, the Anti Corruption Unit (ACU) of the BCCI had sought an inquiry against the organization after it was reported that the website had ties to a fake T20 league that was held in a town in Punjab but was live-streamed as a game in Sri Lanka.
The investigations by the ACU found that the uniforms used by the tournament players had the Dream11 logo, and the event was broadcast live on FanCode. All Dream11 and FanCode are part of the Dream Sports group.
Dream11 have made a successful bid for three years
Dream11 has made a three-year winning bid to secure title rights to the Indian Premier League (IPL). The fantasy sports company – has made a three-year offer, subject to next year’s return on Vivo.
IPL Chairman Brijesh Patel stated to The Hindu that Dream11 had been finalized after “evaluating the three bids submitted earlier today during the specified period.” The other two bidders were Unacademy (almost 170 crores) and Byju’s (almost 201 crores) e-learning sites.
The Eligible Entities
Between 11 a.m. and 1 p.m. Tuesday, the qualifying organizations among those who submitted their Expression of Interest (EoI) were asked to email bids online. The Tata group has pulled out of the race after sending the EoI document last week.
Interestingly, Dream11, which has been a partner of BCCI and IPL for some years now, also has a minority investment from Tencent Holdings, a Chinese firm.
Last week, after the pullout by Vivo India barely six weeks before the start of the tournament, BCCI was forced to invite expression of interest for the IPL the sponsorship rights, to be played from September 19 to November 10.
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