New Delhi: Dream11, the beloved Indian fantasy sports platform, has won the hearts of countless sports aficionados, offering them a chance to immerse themselves in the thrill of fantasy cricket, hockey, football, and more. With a staggering 150 million active users, it stands as one of the most sought-after fantasy apps among sports enthusiasts.
Unveiled to the world in 2008, Dream11 skyrocketed to unicorn status in 2019, marking a significant milestone in the history of Indian fantasy sports companies. (Also Read: Rs 6,000 Crore Mega-Mansion Owned By THIS Billionaire Is India’s Second Tallest Building – In Pics)
Now, here’s the real kicker: before its triumphant rise, this revolutionary app faced a jaw-dropping 150 rejections from venture capitalists. Yes, you heard that right! (Also Read: From Investment To Income: Turning Rs 3 Lakh To Rs 7 Lakh Into Rs 50,000 To Rs 60,000 – A Lucrative Business Idea)
The inception of this sports extravaganza took place only after braving a relentless stream of 150 ‘nos’.
Harsh Jain: Early Life
Hailing from Mumbai, Harsh grew up in a prominent business family with a legacy preceding them. His father, Mr. Anand Jain, commands respect in the Indian business sphere as the Chairman of Jai Corp Limited and Urban Infrastructure Venture Capital Limited.
He’s often considered as the third son of the renowned Indian business magnate, Dhirubhai Ambani.
Harsh Jain: Education
Harsh received his early education at Greenlawn’s High School and later attended Sevenoaks High School. He then pursued a Bachelor of Engineering degree with a focus on Electrical Engineering at the University of Pennsylvania, where he also studied Mathematics and Economics.
Harsh Jain: Starting Of Professional Career
Harsh kick-started his career as a summer intern at Microsoft and later worked alongside his father as a marketing manager at Jai Corp Limited. During this time, he began developing Dream 11.
After a few years, he decided to return to his studies and earned an MBA from Columbia Business School in New York from 2012 to 2014.
Harsh Jain: Challenges Faced
Harsh Jain, along with his business partner Bhavit Sheth, faced significant challenges while trying to secure investors for their company, Dream11. In an interview, Harsh disclosed that their business proposal was turned down by a staggering 150 venture capitalists.
Harsh Jain: Dream 11 Current Valuation
Dream11, currently valued at over 65,000 crores (8 billion dollars), boasts an impressive user base of more than 150 million active players. Initially centered around cricket, the platform has now broadened its scope to include fantasy games for a variety of sports such as football, basketball, and kabaddi.
With a workforce of over 800 employees as of September 2022, the company recorded a substantial revenue of Rs 3,841 crores in the fiscal year 2022.
Harsh Jain, the co-founder, has gained recognition as one of India’s youngest self-made billionaires, marking a significant milestone in his entrepreneurial journey.