Leading fantasy sports platform Dream11 has completed the acquisition of Sixer, a Delhi-based startup specializing in fantasy cricket stocks. This strategic move signals Dream11’s commitment to expanding its offerings and enhancing the overall user experience.
Sixer, founded in 2018, introduced a unique concept in fantasy sports. The platform allows users to trade fantasy stocks in cricket players, with stock prices dynamically reflecting the on-field performance of the players. This innovative approach to fantasy sports garnered significant attention, making Sixer a notable player in the industry.
Moneycontrol reported that Sixer users received an official email directly from the company’s Founder, Amay Makhija, announcing the acquisition by Dream11. The email expressed enthusiasm about the partnership, stating, “Our new partnership with Dream11 gives us the unique opportunity to elevate what we have built so far to unprecedented levels… Together with Dream11, the Sixer platform will experience accelerated growth, and we will be able to provide even more exciting features for our community.”
Dream11, a prominent player in the fantasy sports arena, has continually sought to diversify its offerings and enhance user engagement. The acquisition of Sixer aligns with this strategy and provides Dream11 users with access to a novel and engaging fantasy sports experience.
This acquisition comes at a crucial juncture, as the Indian government has recently applied a 28% GST slab to player deposits, irrespective of whether a game involves skill or chance. In response to this decision, a group of influential investors, including Peak XV Partners, Tiger Global, DST Global, Bennett, Coleman & Company Limited, Alpha Wave Global, Chrys Capital, and Lumikai, collectively penned a letter seeking the intervention of the Prime Minister. This move reflects the concerns of investors about the potential negative impact on prospective investments totaling $4 billion over the next three to four years.
