Dream11 Joins the Indian Unicorn Club
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Dream11, the Mumbai-based fantasy gaming startup, has joined the Indian unicorn club, with an investment from Steadview Capital.
The deal involves a secondary sale of shares by Kalaari Capital, Think Investments and Multiples Equity.
The company has grown at a CAGR of 230% in the last three years, but took three years to hit its first million gamers mark but after that crossed 3 Mn users in less than two months in 2016. No wonder, its co-founder and COO, Bhavit Sheth, is fond of saying that “It takes 10 years to build an overnight success.”
“We are excited to welcome Steadview Capital onboard. Our exponential growth over the past few years would not have been possible without the support and trust of our investors and Dreamsters (employees). We will keep working hard and are targeting to end the year with 100 Mn users,” Harsh Jain, CEO and cofounder, Dream11 said.
Source: Latest News on European Gaming Media Network
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