Dream11 becomes eighth-most downloaded gaming app on PlayStore

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Harsh Jain, Culture Enforcement Officer (CEO) & Co-founder of Dream Sports, revealed on February 10 that the fantasy gaming platform Dream11 is now the eighth-most downloaded game in the world on the Google PlayStore.

“Usually we love 11, but this time 8 will do. #Dream11 is the 8th most downloaded game in the world!!! That too when it’s not available globally, it’s made in India by Indians for Indians,” Jain said in a Tweet.

The app crossed 1 crore (10 million) downloads on the PlayStore itself in December last year. Dream11 is the first fantasy sports app to reach this milestone while its competitor apps have crossed 10 lakh (1 million) downloads so far.

Recently, the company introduced a policy called ‘unplugged’ where an employee who has taken a week off from work is allowed to avoid work-related communications. Employees who disturb the ‘unplugged’ employee will need to pay a hefty fine of Rs 1 lakh, stated Harsh Jain and Bhavit Seth in an interview.

Dream11 was founded back in 2008 and now claims to have more than 150 million registered players. The company saw over 50% revenue growth in FY22 but the profits still dipped by more than 56%. Revenues from fantasy sports contests in FY21 were around Rs 2554 crore and rose to Rs 3841 crore in FY22, a 50.4% increase to be precise.

In the same financial year, Dream11 raised $840 million (RS 6500 crore) from Alpha Wave, DST Global, D1 Capital, Redbird Capital, and Tiger Global. Additionally, the company also earned Rs 224 crore as interest on its current investments.

While there have been a number of debates regarding the legality of fantasy sports in several states, the Supreme Court has ruled that the format is a game of skill and hence can be offered and played legally.