Dream Sports Investment is seeking to again each in-house and exterior platforms which are past the core fantasy gaming enterprise of Dream11. To start with, Dream Sports activities has put $50 million in its in-house sports activities content material and commerce platform — FanCode — by means of the funding arm.
FanCode, integrated in 2019 below the mum or dad firm by Yannick Colaco and Prasana Krishnan, presents sports activities statistics and content material to its 20 million customers. It plans to make use of the contemporary funds to ramp up its consumer base to 100 million by July 2022 and develop sports activities content material and commerce past the metro cities. Its present consumer base is primarily male, aged 25-34 years.
FanCode, integrated in 2019 below the mum or dad firm by Prasanna Krishnan (left) and Yannick Colaco, presents sports activities statistics and content material to its 20 million customers. (Illustration: Rahul Awasthi/ETtech)
The funding is a part of Dream Sports activities’ broader push to change into a one-stop resolution for sports activities and signifies its curiosity in increasing different verticals in addition to its fantasy gaming enterprise. Additionally it is according to what
Dream Sports’ CEO Harsh Jain told ET in March.
“We have now no plans to IPO… We wish to go public as a sports tech firm. For that, we have to have a considerable portion of our enterprise coming from non-fantasy sports activities,” Jain had stated.
Dream11 parent Dream Sports weighs $1.5-billion US listing
FanCode’s Colaco informed ET that the corporate desires to develop its subscriptions at a better charge than the 5 occasions progress aimed for its consumer base. The corporate’s three income streams are reside sports activities content material, official sports activities merchandise, and sports activities analytics and insights. It additionally sells subscriptions to customers, enabling them to stream sporting occasions and tournaments.
FanCode plans to make use of the capital to supply a extra complete merchandising platform and add a number of groups, sports activities and golf equipment, Krishnan stated in an unique interplay with ET. “We need to develop it to a extra complete sports activities licencing and merchandising platform and IPL was the primary part of this,” he stated.
At present, it’s the solely platform internet hosting the official merchandise of all eight IPL groups.
The funds can even be utilised to change into the biggest sports activities demand aggregator platform.
FanCode plans to double its crew measurement to 200, strengthen its engineering and product growth crew throughout varied roles in addition to management positions. Its companions embrace Nationwide Soccer League, Cricket West Indies, New Zealand Cricket, NBA, and a number of IPL groups. It has live-streamed practically 30,000 hours of sports activities content material.
In accordance with Colaco and Krishnan, the platform doesn’t see itself competing with broadcast gamers like Sony and Hotstar, as their platform serves a special want. “You additionally want linear broadcast, which we now have no intention of ever entering into. So, we’re each in the identical ecosystem, however we’re type of filling in several wants proper now,” Colaco stated.
Dream Sports activities’ plans
Dream Sports activities’ funding arm plans to proceed investing in well being, sports activities and associated verticals and canopy the ambit of sports activities expertise.
It has additionally invested in a sports activities aggregator platform and is seeking to make investments within the Web of Issues, and digital and augmented actuality house.
“Our focus now could be on diversification. We have now one good core enterprise which has market management in its space. Now, we wish to go and construct the YouTube, Gmail and Google Maps of sports activities. Wish to construct an Alphabet-like entity, not simply Google Search,” Jain informed ET earlier.