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Five out of the top-10 unlisted companies in India slipped in valuation in 2023

<ul><li><keyword id="12648502" type="General" weightage="20" keywordseo="ipl-2023" source="Orion">IPL 2023</keyword> is expected to boost the revenue of fantasy sports companies to ₹2,900-3,100 crore. </li><li>Growth in fantasy <keyword id="17051681" type="General" weightage="20" keywordseo="sports-platforms" source="Orion">sports platforms</keyword> will be driven by increasing adoption in tier-2 cities.</li><li>Tier-2 and beyond cities account for over 80% of the user base.</li></ul> Fantasy sports companies like Dream11, My11Circle, MPL are set to receive a huge boost due to the ongoing Indian Premier League (<keyword id="6354312" type="General" weightage="20" keywordseo="ipl" source="Orion">IPL</keyword>) 2023. These companies are expected to earn a gross gaming revenue of ₹2,900-3,100 crore in 2023. According to a report by Redseer Strategy Consultants, the fantasy sports market has grown due to increased awareness of fantasy sports among people and increased marketing efforts by new companies. The gross gaming revenue of fantasy sports companies is expected to increase by 30 to 35%, taking it to ₹2,900-3,100 crore during 2023. The report predicts that the average revenue per user (ARPU) will increase from ₹410 during IPL 2022 to ₹440 per user during IPL 2023. In 2022, fantasy sports companies earned a gross gaming revenue of ₹2,260 crore, up from ₹1,460 crore in 2021, registering a growth of 55%. In 2022, IPL recorded a viewership of 400 million TV viewers. In 2022, 50% of the transacting users were from tier-2 cities and 31% from tier-3 and beyond cities. Metro cities and tier-1 cities contributed just 8% and 11%, respectively. <cmsannotation type="cmsannotation" annotationid="Tier-2 cities to drive growth" comment="subhead" text="Tier-2 cities to drive growth">Tier-2 cities to drive growth</cmsannotation> According to Ujjwal Chaudhry, the growth in the fantasy sports segment will be driven by increased adoption in tier-2 cities across the country and the cross-migration of users from other games. Increasing internet penetration in tier-2 and beyond cities is also expected to provide a push to the industry. Over 80% of users reportedly come from tier-2 and beyond cities. “Steep growth in fantasy sports gaming will come from tier 2 cities driven by increasing adoption of fantasy platforms and cross-migration of users from other games. Increased internet accessibility will give a push to the IPL economy,” said Chaudhry, partner, Redseer Strategy Consultants. <cmsannotation type="cmsannotation" annotationid="Government’s regulations to boost transacting users" comment="subhead" text="Government’s regulations to boost transacting users">Government’s regulations to boost transacting users</cmsannotation> The Indian government’s decision to formulate rules and regulations for Goods and Service Tax (GST) on real money gaming (RMG) platforms and Google allowing fantasy sports platforms on its Play Store will also help in increasing transactions during IPL 2023. “There has been an increase in efforts to make platforms more secure and reliable for the users. Measures like RNG certification, secure payment gateways, and fraud security, increase user trust in the platforms, and subsequently build confidence in the users to spend higher amounts on gaming,” said Saurav Kumar Chachan, director, Redseer Strategy Consultants. <cmsannotation type="cmsannotation" annotationid="Prizes like Audi cars and Mahindra Thar push users to spend more" comment="subhead" text="Prizes like Audi cars and Mahindra Thar push users to spend more">Prizes like Audi cars and Mahindra Thar push users to spend more</cmsannotation> In 2022, Dream11, a popular fantasy sports platform, offered its users rewards such as Audi cars during IPL 2022, and My11Circle, another fantasy sports platform, offered the Mahindra Thar as a reward during the 2022 World Cup. These rewards pushed users to deposit and spend more money to win these prizes. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ashneer-grovers-new-startup-crickpe-is-a-fantasy-sports-app-that-will-also-reward-cricketers/articleshow/98964195.cms">Ashneer Grover's new startup CrickPe is a fantasy sports app that will also reward cricketers</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-check-tds-dividend-income-and-income-tax-refund-using-the-ais-for-taxpayers-app/articleshow/99025288.cms">How to check TDS, dividend income, and income tax refund using the AIS for Taxpayers app</a> <a href="https://www.businessinsider.in/tech/mobile/news/three-out-of-four-premium-smartphones-sold-in-2022-were-an-iphone/articleshow/98855033.cms">Three out of four premium smartphones sold in 2022 were an iPhone</a>

IPL 2023 to drive fantasy sports companies to ₹2,900-3,100 crore revenue, fueled by Tier-2 cities and exciting prizes

Serum Institute of India, BYJU’S, Ola, OYO among top 10 valuable unlisted companies

<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

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Five out of the top-10 unlisted companies in India slipped in valuation in 2023

Sourabh Jain

IPL 2023 to drive fantasy sports companies to ₹2,900-3,100 crore revenue, fueled by Tier-2 cities and exciting prizes

Sourabh Jain

Serum Institute of India, BYJU’S, Ola, OYO among top 10 valuable unlisted companies

Bhakti makwana

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

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