It’s a Knockout Punch, Lost 95% Revenue & 100% Profits: Dream11 CEO on Real Money-Gaming Ban
The Indian government’s recent ban on real-money gaming has sent shockwaves throughout the industry, with many companies struggling to come to terms with the sudden loss of revenue and profits. One such company is Dream11, a popular online fantasy sports platform that has been severely impacted by the ban. In an exclusive interview with Moneycontrol, Dream11 Co-Founder and CEO Harsh Jain spoke candidly about the challenges his company is facing and his plans for the future.
A “Knockout Punch”
When asked to describe the impact of the ban on Dream11, Jain was blunt in his assessment, calling it a “knockout punch.” He explained, “We’re going to work on the future, but yes, 95% of our group’s revenue and basically 100% of our profit was coming from Dream11’s current business model.” This is a staggering loss, and it’s no wonder that Jain described the ban as a devastating blow to his company.
Despite the severity of the situation, Jain remains optimistic about the future of his company. He told Moneycontrol, “I’m still a delusional optimist. I think we can find a way to build a new business model that’s going to be successful.” This optimism is certainly admirable, but it’s clear that Dream11 faces a significant uphill battle in the coming months.
The Impact on the Company
The impact of the ban on Dream11 has been felt across the company, with many employees affected by the sudden loss of revenue and profits. Jain acknowledged the challenges his team is facing, saying, “It’s tough for everyone. We’ve had to let go of some people, and it’s been a tough period for everyone involved.” Despite this, Jain remained committed to his team, saying, “We’re going to work hard to build a new business model that will create new opportunities for our employees.”
Dream11’s loss of revenue and profits is staggering, and it’s clear that the company will need to adapt quickly to survive. Jain acknowledged that the company will need to diversify its revenue streams and find new ways to engage with its user base. He told Moneycontrol, “We’re going to have to be creative and find new ways to monetize our user base. We’re going to have to think about new business models and new ways to generate revenue.”
The Future of Dream11
So, what does the future hold for Dream11? Jain is clear that the company will need to change its business model in order to survive. He told Moneycontrol, “We’re going to have to pivot and find a new way to make money. We’re going to have to be opportunistic and take advantage of new trends and new technologies.” This pivot will likely involve a shift away from real-money gaming and towards other forms of entertainment or social interaction.
Despite the challenges ahead, Jain remains committed to his vision for Dream11. He told Moneycontrol, “We’re not going to give up. We’re going to keep fighting and keep working on new ideas. We’re going to find a way to make it work.” This determination is admirable, and it’s clear that Jain is committed to finding a way to make Dream11 successful in the long term.
Conclusion
The ban on real-money gaming has dealt a significant blow to Dream11, with the company losing 95% of its revenue and 100% of its profits. Despite this, CEO Harsh Jain remains optimistic about the future, and is committed to finding a new way to make his company successful. While the road ahead will be challenging, Jain’s determination and creativity will be essential in navigating the company through this difficult period.
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