Just when everyone thought the competition was getting tough for one of the early fantasy sports portals in the online gaming industry, Dream11 secretly set the path for a funding of $100 million from a Chinese venture called, Tencent Holdings. Tencent Holding is one of the largest gaming and social media company in the most populated nation on earth, China.
Taking the cue from there, the Chinese venture wanted to make their presence known in the Indian gaming industry and what better way to do it than investing in one of India’s biggest money spinner, Dream11.
The Mumbai based, Dream11 Private Limited, started their journey back in 2007 and with regular funding they have sustained so far and as they now aim to reach the sky of the Indian gaming market they have already signed Indian cricketing legend Mahendra Singh Dhoni as their brand ambassador. Not only that, they even signed a deal with STAR India to be the associate sponsor of the 11th edition of the Indian Premier League, a domestic cricket league in India that have international players joining from all parts of the globe.
The gaming industry in India is like a sleeping giant, that was thought never to be found but now that it has been found, all online gaming platforms would want to wake it up and prepare for the secured future to come in just 5-10 years.
With Tencent, making a rain of money in the Indian gaming industry has clearly got their eyes on the prize of bringing at least one third of the Indian Gaming Population under their shade in the coming two years. However, the investment of $100 million could even be doubled to escalate the whole system and helping them reach to their goal quicker.
Thanks to the cutthroat competition in the telecom industry, all service providers are giving away mobile data at nominal rates, which has seen a great chunk of Indian users getting into the online gaming industry even without having any clue of it. For Tencent, the Bull’s Eye is to get the next half a billion Indian users coming into the industry and with the gaming content curated specifically for the users would make India one of the latest generations to have come alive in the smart-phone generation along with Brazil, China, Nigeria and Indonesia.
Seeing this opportunity, not be missed, both Dream 11 and Tencent Holdings would expand their services to lure in more users, who would help them in making more money. For the record, in April 2018, Dream 11 was estimated to be valued around $400 million – $500 million by the media.