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<ul><li><keyword id="13651867" type="General" weightage="80" keywordseo="tezos-india" source="Orion">Tezos India</keyword> will support game developers by providing Ecosystem Growth Grants worth $10,000. </li><li>The online gaming market in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> is projected to reach 657 million by 2025. </li><li>Game decentralized applications currently account for 52% of the blockchain industry. </li></ul><keyword id="5287675" type="General" weightage="80" keywordseo="tezos" source="Orion">Tezos</keyword> India, a Indian blockchain adoption entity, has announced the launch of its new initiative titled<a href="https://gaming.tezosindia.org.in/"> Tezos India Game Launchpad (TIGL</a>). This platform will assist game developers with grants and technical support to help launch their games on the Tezos blockchain. “Web3 games will be the next big thing as it is opening new economic and creative opportunities for gamers and game developers. There is potential to unlock a $100 billion gaming market. With this initiative, Tezos India is setting the stage for a decentralized future in gaming where massive participation is expected in times to come,” said Om Malviya, President, Tezos India. This initiative by Tezos India includes an incubation programme, a Web3 gaming handbook, and a Web3 gaming course crafted by the founding team within the Tezos India organization. It will support game developers by providing Ecosystem Growth Grants (EGG) worth $10,000 coupled with an opportunity to join the <keyword id="14562198" type="General" weightage="50" keywordseo="egg-incubation-program" source="Orion">EGG Incubation Program</keyword> with TZ APAC, the leading Asia-based blockchain adoption entity supporting the Tezos ecosystem. Game decentralized applications (dApps) currently account for <a href="https://dappradar.com/blog/game-guilds-an-analysis-of-the-industrys-health-and-sustainability">52% </a>of the blockchain industry, according to a report by Dappradar. It also says that VCs and private investors have invested over $10 billion into blockchain-based game projects since 2021. Given the widespread use of mobiles and low data rates, the online gaming market in India is projected to reach 657 million by 2025 according to a report by <a href="https://images.assettype.com/afaqs/2021-06/1ef54dc8-61db-410d-893e-957ce23e0103/Beyond_the_tipping_point__A_primer_on_online_casual_gaming_in_India_low_size.pdf">KPMG</a>. Amanjot Malhotra, head of growth at Tezos India, said, “There is an exodus of games from Web2 to Web3 as industry leaders have realized the future of gaming is on the blockchain.“ Interested game developers can submit their applications with details of the project and roadmap on the<a href="https://gaming.tezosindia.org.in/"> </a>TIGL website. TIGL's global partners such as Tezotopia, IndiGG, and others will help the game developers collaborate internationally. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/suspected-case-of-monkeypox-in-patna/articleshow/93139046.cms">Suspected case of monkeypox in Patna</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/rapido-ceo-unicorn-india-invest-in-windo-that-is-helping-small-businesses-take-their-business-online/articleshow/93139058.cms">Rapido CEO, Unicorn India Ventures invest in social commerce startup Windo</a>

There is an exodus of games from Web2 to Web3, says this blockchain adoption entity

Hello,Welcome to <keyword id="11421931" type="UNKNOWN" weightage="60" keywordseo="insider-healthcare">Insider Healthcare</keyword>. I'm Lydia Ramsey Pflanzer, and today in <keyword id="6354525" type="UNKNOWN" weightage="100" keywordseo="healthcare">healthcare</keyword> news:<ul><li><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">We rounded up 6 startups tackling mental and behavioral health for kids and young adults</a>;</li><li><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">Meet the 11 newly minted healthcare unicorns of 2021</a>;</li><li><a href="https://www.businessinsider.com/analysis-upstart-insurers-alignment-bright-and-clover-are-employing-doctors-2021-7"></a><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Why companies that make apps and video games could be prime takeover targets for telehealth firms</a>.</li></ul>If you're new to this newsletter, <a href="http://newsletter.businessinsider.com/join/4np/newsletter.businessinsider.com/join/4np/insider-healthcare">sign up here.</a> Comments, tips? Email me at <a href="mailto:lramsey@insider.com">lramsey@insider.com</a> or tweet <a href="https://twitter.com/lydiaramsey125">@lydiaramsey125</a>. Let's get to it...<h3><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7"></a></h3><h3><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">6 startups to watch that are tackling youth mental and behavioral health</a></h3><ul><li>These six mental- and behavioral-health startups are focusing on children and students.</li><li>Young people's <keyword id="6354774" type="ORGANIZATION" weightage="60" keywordseo="Mental-health">mental health</keyword> has deteriorated during the pandemic.</li><li><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">Mental-health startups raised over 50% more money in 2021's second quarter than in its first.</a></li></ul><a href="https://www.businessinsider.com/youth-mental-behavioral-health-startups-to-watch-2021-7">Here's the full list&gt;&gt;</a><h3><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7"><div type="image" title="CMC9165 143 (4)" height="3354" width="4472" msid="84646146" hostid="261"></div></a> <a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">VCs just can't get enough of healthcare. Here are the 11 top upstarts they propelled to billion-dollar status.</a></h3><ul><li>Healthcare startups raised about $35 billion globally in 2021's second quarter, CB Insights reports.</li><li>Among them are 11 companies valued for the first time at more than a billion dollars each.</li><li><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">The startups, spanning from telehealth apps to dental clinics, are valued at a combined $27 billion.</a></li></ul><a href="https://www.businessinsider.com/11-newest-healthcare-unicorns-of-2021-2021-7">Find out more about the newly minted unicorns&gt;&gt;</a><h3><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7"><div type="image" title="Akili EndeavorRx4" height="1001" width="1337" msid="84646148" hostid="261"></div></a></h3><h3><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Apps and video games are changing the way we treat diseases. Experts say they're prime M&amp;A targets for telehealth firms.</a></h3><ul><li>Apps and <keyword id="25195" type="PERSON" weightage="60" keywordseo="video-games">video games</keyword> that can treat health conditions nabbed $1.2 billion in VC dollars in 2019.</li><li>Only a few commercial products have been launched so far, and they're struggling to penetrate the healthcare system.</li><li><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Experts say this field is primed for consolidation and could be a great target for telehealth firms.</a></li></ul><a href="https://www.businessinsider.com/prescription-apps-could-be-telehealth-deal-targets-2021-7">Get the full story&gt;&gt;</a>More stories we're reading:<ul><li><a href="https://www.businessinsider.com/pfizer-vaccine-works-against-delta-covid-but-both-shots-needed-2021-7">Pfizer's COVID-19 vaccine works very well against the Delta variant - but only after 2 doses</a> (Insider)</li><li><a href="https://www.healthcaredive.com/news/medical-debt-overtakes-nonmedical-as-largest-source-in-collections-covid-1/603696/">A new study found that medical debt has hit $140 billion, overtaking all other kinds of personal debt</a> (HealthcareDive)</li><li><a href="https://www.businessinsider.com/delta-variant-vaccine-booster-johnson-jj-covid-study-effectiveness-2021-7">Johnson &amp; Johnson's vaccine produced fewer antibodies against Delta compared with other shots in an experiment. Experts say we shouldn't worry about the results.</a> (Insider)</li><li><a href="https://www.washingtonpost.com/climate-environment/2021/07/21/heat-wave-death-portland/">How isolation and disparities can make heat waves deadly</a> (Washington Post)</li><li><a href="https://www.businessinsider.com/what-to-do-if-vaccinated-and-exposed-to-covid-experts-2021-7">What to do if you're exposed to COVID-19 after being fully vaccinated, according to experts</a> (Insider)</li></ul>- Lydia

Meet the startups tackling youth mental health

E-commerce platform <keyword id="1715801" type="General" weightage="100" keywordseo="shopify" source="Orion">Shopify</keyword> on Tuesday announced to cut 10 per cent of its workforce -- around 1,000 <keyword id="6357081" type="General" weightage="20" keywordseo="employees" source="Orion">employees</keyword> across verticals -- as it failed to predict that the e-commerce industry would continue to grow beyond the pandemic at the same pace it did during the two-year period. The company CEO <keyword id="5695811" type="General" weightage="50" keywordseo="tobi-lutke" source="Orion">Tobi Lutke</keyword> said in a statement that Shopify has to go through a reduction in workforce that will see about 10 per cent leave by the end of the day. "Most of the impacted roles are in recruiting, support, and sales, and across the company we're also eliminating over-specialized and duplicate roles, as well as some groups that were convenient to have but too far removed from building products," he informed. The company was sending emails to those affected and they will "have a meeting with a lead in their team". <keyword id="14565887" type="General" weightage="80" keywordseo="lutke" source="Orion">Lutke</keyword> said that before the pandemic, <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> growth had been steady and predictable. "Was this surge to be a temporary effect or a new normal? And so, given what we saw, we placed another bet: We bet that the channel mix - the share of dollars that travel through ecommerce rather than physical retail - would permanently leap ahead by 5 or even 10 years", he mentioned. Shopify's workforce jumped from 1,900 in 2016 to around 10,000 in 2021 to meet the expected growth. However, Lutke said that it is now clear that bet didn't pay off. "What we see now is the mix reverting to roughly where pre-Covid data would have suggested it should be at this point. Still growing steadily, but it wasn't a meaningful 5-year leap ahead," he informed. Those affected in the layoff will get 16 weeks of severance pay, plus an additional week for every year of tenure at Shopify. "We'll remove any equity cliff, and extend any medical benefits. Knowing that Shopify is just one stop on a career journey, we'd also like to help set everyone up for success as they take their next steps," said the CEO., adding that the company will offer outplacement services with access to career coaching, interviewing support, resume crafting, etc. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/there-is-an-exodus-of-games-from-web2-to-web3-says-this-blockchain-adoption-entity/articleshow/93139457.cms">There is an exodus of games from Web2 to Web3, says this blockchain adoption entity</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/rapido-ceo-unicorn-india-invest-in-windo-that-is-helping-small-businesses-take-their-business-online/articleshow/93139058.cms">Rapido CEO, Unicorn India Ventures invest in social commerce startup Windo</a>

E-commerce platform Shopify lays off 1,000 employees

<ul class="summary-list"><li>The firesale of Credit Suisse to UBS is putting the banking world on high alert.</li><li>Shiny fintechs that disrupted banking will need to reassure investors about their business models.</li></ul>The swallowing of Credit Suisse after a historic week for the banking sector should raise the question for a batch of highly valued startups that want to disrupt finance: Am I next?The saga that culminated last week in <a href="https://www.businessinsider.com/credit-suisse-ubs-offers-up-to-billion-rescue-deal-report-2023-3">the $3.25 billion rescue of Switzerland's second largest bank</a> by rival lender UBS all started after an off-hand remark from Saudi National Bank, Credit Suisse's largest shareholder, suggesting it had little intent of upping its holding.A crisis in confidence ensued, sparking a huge share and bond price drop and customer outflows. <a href="https://www.bloomberg.com/news/articles/2023-03-17/credit-suisse-investors-see-bail-in-risk-for-82-billion-bonds" target="_blank" rel="noopener">A $54 billion loan</a> from the Swiss National Bank wasn't enough to keep Credit Suisse afloat, and UBS stepped in.It is the latest sign of a financial system that is cracking, after the <a href="https://www.businessinsider.com/insider-today-svb-silicon-valley-bank-rokt-oil-2023-3">collapse of Silicon Valley Bank</a>.Credit Suisse suffered idiosyncratic problems, such as <a href="https://www.businessinsider.com/credit-suisse-ceo-tidjane-thiam-steps-down-after-spying-scandal-2020-2">a spying scandal involving former CEO Tidjane Thiam</a>, as well as crises relating to its relationships with hedge fund Archegos Capital and financial group Greensill Capital. Its delayed annual accounts showed it was around $8 billion in the red, and ultimately it fell after a collapse in investor confidence.But it is clear <a href="https://www.businessinsider.com/svb-decimated-24-hours-digital-banking-trump-regulatory-rollbacks-2023-3">that sentiment can make or break a bank</a>. And that should have lessons for the shiny, fast-growing companies that want to be banks, and have only known an era of easy venture capital money and low interest rates."There's already a lot of soul searching about what fintech business models are," says Paul Rolles, an ex-Morgan Stanley managing director and cofounder of money-management service HyperJar.<h2>The party times are over </h2>The <a href="https://www.businessinsider.com/27-top-fintech-startups-in-europe-according-to-vcs-2023-2">fintech sector</a> has been something of a darling of the startup world post-2008. The promise of technology-led businesses to shake up a staid, failed industry attracted huge amounts of investment.But now these startups — worth $158.9 billion in 2022, <a href="https://www.imarcgroup.com/fintech-market" target="_blank" rel="noopener">per data firm IMARC Group</a> — face their first real questions about the viability of their business models.A vigorous chase for customers during the low-interest rate boom years of the 2010s allowed fintechs to focus on growth without too much focus on profit. Recent developments might sharpen investors' minds, as they have elsewhere in the tech world.Rolles believes the banking issues of the past couple of weeks are as much about confidence as intrinsic issues. "Back in 2008, the whole bank run was triggered off by US subprime mortgages but actually the amount of crap in the US subprime market wasn't that big," Rolles said. "It was the fact that it triggered a lack of confidence and therefore a bank run."An <a href="https://www.businessinsider.com/silicon-valley-bank-svb-first-social-media-bank-run-2023-3">SVB-style bank run</a> on neobanks, whose central customer base has been consumers, is unlikely. Some of these newer players <a href="https://www.businessinsider.com/svb-rivals-pitch-startups-on-moving-money-out-bank-2023-3?r=US&amp;IR=T">have benefited from the SVB collapse</a> by seeing new demand from startups seeking to diversify where they hold their money.Even so, there's a huge difference between being "a really good consumer marketing company" that attracts users and a fully regulated bank that acts as a massive lender. Firms such as <a href="https://www.ft.com/content/444e9971-16f0-48ba-b4b6-ad970cc116c1" target="_blank" rel="noopener">buy-now, pay-later firm Klarna</a> and neobank Monzo <a href="https://www.ft.com/content/ec37b0b9-58da-4bd6-9b15-4ad176dfbb97" target="_blank" rel="noopener">are not recently profitable</a>, for example. Though global investment into fintech hit $75.2 billion last year, <a href="https://www.cbinsights.com/research/report/fintech-trends-2022/" target="_blank" rel="noopener">per data from CB Insights</a>, it marked a 46% drop in funding levels seen in 2021. In a 2022 funding round, Klarna took an 85% valuation haircut. Dutch VC firm Finch Capital predicted in October 2021 that <a href="https://www.businessinsider.com/european-fintech-is-breaking-records-but-clouds-on-the-horizon-2021-10?r=US&amp;IR=T">the fintech bubble was set to burst</a>."Everyone knows it's quite expensive to run a digital neobank," Rolles said. "The business model is what, exactly? Is it deploying deposits really effectively and lending? I don't think a lot of them have done much lending yet."As Rolles notes, "actually building a lender" by dealing with a regulator, managing liquidity, hedging derivatives and overseeing short and long-dated assets is hard work. "Maturity transformation is an art and a very complicated game," he added. "It's never been clear that those skills are being developed in the fintech sector." Correction — March 20, 2023: An earlier version of this article said Klarna was not yet profitable. It was consistently profitable until 2019.

Credit Suisse's $3.2 billion cut-price sale signals an ongoing crisis that could expose unicorn fintechs

<ul><li>Dream11 founder Harsh Jain shared his plight with finding investors in the first few years of his startup that is now a unicorn.</li><li>At the TiE Global Summit 2019, Jain said that the first 150 investors refused to invest in Dream11 but he learnt a lot from those rejections.</li><li>It raised $110 million from Tencent. It turned unicorn (startup with a valuation of over $1 billion) in November 2019 </li><li>Its popularity skyrocketed after IPL and ICC signed them as the official partner.</li></ul>In 2009, Harsh Jain and Bhavit Sheth were living a fantasy. Those were times when iPhones were just becoming popular and smartphones are not all-pervading like they are –right now. Even for those who owned such phones, 2G powered data did not come cheap. Yet, the Founders of Dream11 were trying to raise money for a fantasy cricket game shaped after EPL, after IPL was launched a year back. “We had 150 people say ‘No’ before we got to our first funding. Perseverance is what it takes. Every single no came with a why, it taught me something about our business and how to grow,” Jain said at the TiE Global Summit (TGS). In a session chaired by Business Insider at the Summit — an annual event which showcased India's vibrant startup ecosystem — Jain shared the journey of his startup that introduced '<keyword id="6370198" type="UNKNOWN" weightage="20" keywordseo="fantasy-gaming">fantasy gaming</keyword>' as a business to India. The Indus Entrepreneurs (TiE) is a global not-for-profit organisation founded in 1992 by a bunch of Silicon Valley entrepreneurs who had roots in the subcontinent. TiE helps startups with mentoring, networking, education, funding, and incubation. Dream11 founder Harsh Jain was a headliner at this year's edition of the TGS. The Dream journey Within nine years, Dream11 raised $110 million from Tencent. It turned unicorn (startup with a valuation of over $1 billion) in November 2019 after a secondary investment from Steadview Capital, an Asia-focused alternative asset manager. Its popularity skyrocketed first after IPL and ICC both signed them on as the official partner. It now has 75 million users on its platform and has a robust model to go with - as it earns 15-20% of a gamer’s winnings. Jain believes that there is a lot of potential ahead for fantasy gaming. “India is a large market to address where 700 million people expected to use sports online in India in the next few years,” he said. Other than providing a platform for gaming, Jain believes that their offering provides with something more--- a way to overcome tediousness. “Indians are bored that's why they keep looking at their phones. Suddenly because of Jio everyone has data and access, we need to engage them and provide entertainment. The reason why Dream11 is popular because we give that on something they love – sports,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/dream11-will-sell-sports-merchandise-and-game-tickets-on-fancode/articleshow/72066243.cms" data-type="tilCustomLink" target="_blank">Dream11-backed Fancode will sell sports merchandise and game tickets</a>

‘I heard 150 noes before first funding’- reveals one of India's newest unicorns Dream11

<ul><li><keyword id="6214644" type="UNKNOWN" weightage="20" keywordseo="Dream11">Dream11</keyword>, an Indian gaming and sports startup is redefining the human resource function — adopting a rare culture. </li><li>The gaming startup focuses on the designation of employee and not his remuneration at the previous company while extending job offers and compensation to its employees. </li><li>Every quarter, the employee is judged by some 25 coworkers based on the company’s core values — data, ownership, performance, user and transparency. </li></ul>Dream11, an Indian gaming and sports startup is redefining the human resource function - paving the way for a new culture. It not only allows employees to set targets themselves but also offers them the flexibility to do what they want to do, as long as they bring in the results. The company follows a pod structure — called a ‘dream team’ where product, tech, marketing, business analytics, and all other teams work together in pods — which refers to a group having a shared purpose. The employees can introduce their own ideas and set targets. “We don’t believe in bell curve. The culture and philosophy of how we work is completely different. We don’t have things like OKR, KRA and KPI individually set across the organisation. We only have one thing, which is a team target. Either the entire company achieves the target or we don’t,” <keyword id="2598207" type="PERSON" weightage="20" keywordseo="Harsh-Jain">Harsh Jain</keyword>, Co-Founder and CEO at Dream11 told Business Insider at the <keyword id="8514289" type="UNKNOWN" weightage="20" keywordseo="tie-global-summit-2019">TiE Global Summit 2019</keyword>. Salary hikes and appraisals The 11 year old gaming startup also breaks many traditional molds when it comes to appraisals. “From 15% to as high as 270% appraisals, we pay top of markets,” Jain said. “Everything is data driven for us. We do benchmarking of competitive companies which can poach from us. We see what they pay and then we pay at the 99th percentile,” he said. For new employees too, it focuses on the designation and not the remuneration at the previous company. The company has 200 employees. In fact, the drill to decide on appraisals isn’t the same either. It doesn’t let only managers rate the performance and make decisions. Every quarter, the employee is judged by 25 coworkers based on the company’s core values — data, ownership, performance, user and transparency. “If they get less than 7/10 rating on an average, they are given a warning. Two quarters in a row, final warning. Three quarters and you are out,” Jain said. <div type="Youtube" id="AVXqxHY4vV4" title="Dream11, an Indian gaming and sports startup is redefining the human resource function" thumbUrl="https://i.ytimg.com/vi/AVXqxHY4vV4/mqdefault.jpg"></div>

 See also: <a href="https://www.businessinsider.in/business/startups/news/dream11-will-sell-sports-merchandise-and-game-tickets-on-fancode/articleshow/72066243.cms">Dream11 backed Fancode will sell sports merchandise and game tickets</a> <a href="https://www.businessinsider.in/business/startups/news/dream11-founder-tells-how-he-struggled-before-his-first-funding/articleshow/72057606.cms">‘I heard 150 noes before first funding’- reveals one of India's newest unicorns Dream11</a> <a href="https://www.businessinsider.in/dream11-is-eyeing-the-unicorn-tag-riding-on-ipl-and-cricket-world-cup-in-2019/articleshow/68458528.cms">2019 may be the biggest year for this 11-year old Indian gaming startup</a>

This Indian startup offers as much as 270% hike in salary for a job well done

<ul><li>BCCI has announced <keyword id="6214644" type="UNKNOWN" weightage="20" keywordseo="Dream11">Dream11</keyword> as the official partner for the <keyword id="6354831" type="UNKNOWN" weightage="20" keywordseo="indian-premier-league">Indian Premier League</keyword>. </li><li>Dream11 will also take over <keyword id="6354312" type="UNKNOWN" weightage="20" keywordseo="IPL">IPL</keyword>’s official fantasy game. </li><li>The startup which is on the brink of becoming India’s first <keyword id="7430106" type="UNKNOWN" weightage="20" keywordseo="gaming-unicorn">gaming unicorn</keyword> has 51 million users currently.</li></ul>The Indian Premier League is just around the corner and Indian gaming startup Dream11 has hit the ball out of the park. The Board of Control for Cricket in India has announced Dream11 as the official partner for the IPL. In a four-year exclusive contract, Dream11 will also take over the official fantasy game of IPL. Dream11 has IPL to thank for, for increasing its users over the years. The startup has grown from 300,000 users in 2004 to 51 million users today. Just during last year’s IPL, the gaming startup gained over 20 million users, Bhavit Sheth, COO and co-founder of Dream11 told Business Insider. Now, with the official partnership the numbers are only set to grow. “Dream11 is deeply integrating with the IPL, which is set to grow from its 1.4 billion TV impressions and 200 million online viewers in 2018, to achieve our goal of growing from 51 million users to 100 million users in 2019,” said Harsh Jain, CEO and co-founder of Dream11. The startup which is on the brink of becoming India’s first gaming unicorn has been around for 11 years, although it saw its popularity reach the peak with last year’s IPL. The startup also brought on board former Indian cricket team captain MS Dhoni to be its brand ambassador. According to the 2019 IFSG - KPMG report, fantasy cricket is the most widely played (71% respondents) online fantasy sports game and the primary motivation (72% respondents) for playing fantasy sports is fun and excitement. See Also: <a href="https://www.businessinsider.in/heres-why-indian-brands-can-no-longer-ignore-the-countrys-women-during-ipl-matches/articleshow/68153213.cms">Brands can no longer ignore Indian women during the country's most popular sporting event</a> <a href="https://www.businessinsider.in/mobile-premier-league-signs-virat-kohli-as-brand-ambassador/articleshow/68266803.cms">It’s Virat Kohli Vs MS Dhoni in the Indian e-gaming space</a>

Gaming startup Dream11 strikes gold as the official partner of IPL

<ul><li>The <keyword id="3351303" type="PERSON" weightage="20" keywordseo="Gaming-startup">gaming startup</keyword> has announced a secondary investment from <keyword id="6497288" type="ORGANIZATION" weightage="20" keywordseo="steadview-capital">Steadview Capital</keyword>. </li><li>The 11-year-old <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> has over 50 million users and aims to have 100 million by the end of 2019. </li><li>Its existing investors include <keyword id="1397792" type="COMPANY" weightage="20" keywordseo="Kalaari-Capital">Kalaari Capital</keyword>, Think Investments &amp; Multiples Equity.</li></ul>Indian gaming startup <keyword id="6214644" type="UNKNOWN" weightage="20" keywordseo="Dream11">Dream11</keyword> has entered the prestigious <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> club. The startup announced a secondary investment from Steadview Capital, an Asia-focused alternative asset manager. Steadview Capital comes on board by buying secondary shares from Dream11’s existing investors Kalaari Capital, Think Investments &amp; Multiples Equity. The existing investors will continue to stay on board. Secondary investments are when the new investor purchases shares from sources other than the issuer (employees, former employees, or investors). India now has over 15 unicorns, which are startups with the valuation of over $1 billion. The new additions include Delhivery and BigBasket. The 11-year-old startup has made it big in the Indian gaming space with over 50 million users and is also the official partner of the Indian Premier League - the cricket league which brought them most of their users. According to the company’s official release, Dream11’s user base has grown at a compounded annual growth rate (CAGR) of about 230% over a period of three years. “Providing great returns to our shareholders, whether investors or Dreamsters (employees), is very important to us and further reinforces their belief in Dream11. We will keep working hard and are targeting to end the year with 100 million users,” said Harsh Jain, CEO and Co-Founder, Dream11. The startup has a busy time ahead with the ongoing IPL and the upcoming cricket World Cup. At Dream11, it was a dream come true after multiple years of hard work. In an earlier interview with Business Insider, Bhavit Sheth, COO and co-founder, Dream11 had spoken about their journey so far. “As 22-year-olds we started this business, engineers who didn't know anything about business. We didn't even in our wildest imagination think that we will have over 52 million users in such a short time, with only a team of over 200 managing them and be at this scale,” said Sheth. See Also: <a href="https://www.businessinsider.in/dream11-is-eyeing-the-unicorn-tag-riding-on-ipl-and-cricket-world-cup-in-2019/articleshow/68458528.cms">2019 may be the biggest year for this 11-year old Indian gaming startup</a> <a href="https://www.businessinsider.in/gaming-startup-dream11-strikes-gold-as-the-official-partner-of-ipl/articleshow/68426121.cms">Gaming startup Dream11 strikes gold as the official partner of IPL</a>

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