Dream Sports valuation to plummet; has cash runway of few years: CEO Harsh Jain on real-money gaming ban

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The valuation of Dream Sports – India’s largest real-money gaming platform – will plummet in the aftermath of the government’s move to ban such operations, the company’s cofounder and CEO, Harsh Jain, told ETtech in an interview.

Dream Sports, the parent of popular fantasy sports app Dream11, was last valued at $8 billion during its 2021 funding round, when it raised $840 million from the likes of Tiger Global, Alpha Wave Global, DST Global, and TPG.

However, with 95% of its revenues and 100% of its profits getting wiped out as a result of…



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Dream Sports valuation to plummet; has cash runway of few years: CEO Harsh Jain on real-money gaming ban



The valuation of Dream Sports – India’s largest real-money gaming platform – will plummet in the aftermath of the government’s move to ban such operations, the company’s cofounder and CEO, Harsh Jain, told ETtech in an interview.

Dream Sports, the parent of popular fantasy sports app Dream11, was last valued at $8 billion during its 2021 funding round, when it raised $840 million from the likes of Tiger Global, Alpha Wave Global, DST Global, and TPG.

However, with 95% of its revenues and 100% of its profits getting wiped out as a result of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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