It’s a Knockout Punch, Lost 95% Revenue & 100% Profits: Dream11 CEO on Real Money-Gaming Ban
In a recent interview, Dream11 Co-Founder and CEO Harsh Jain spoke candidly about the impact of the government’s ban on real-money gaming on his company. Jain described the ban as a “knockout punch” but remained optimistic about the future of his business.
Dream11, a popular fantasy sports platform, has been at the center of controversy since the government’s decision to ban online gaming, citing concerns about the potential harm it could cause to players. The ban has had a devastating impact on the company, with Jain revealing that they have lost 95% of their revenue and 100% of their profits.
“We’re going to work on the future,” Jain said, “but yes, 95% of our group’s revenue…and basically 100% of…profit was coming from Dream 11’s current business model.” However, he added that this doesn’t mean Dream11 is “dead.” Instead, Jain believes that his company will adapt and evolve to find new ways to succeed.
The ban has caused significant financial losses for Dream11, with Jain estimating that the company has lost hundreds of crores. Despite this, he remains committed to finding a solution and is working closely with the government to find a way to re-enter the market.
“We are working with the government to find a solution,” Jain said. “We are committed to finding a way to come back and we are hopeful that we will be able to do so.”
Dream11 has been a pioneer in the fantasy sports industry and has gained a significant following in India and other countries. The company’s success has been fueled by its innovative approach to fantasy sports, which allows users to create their own teams and compete against each other.
The ban has not only affected Dream11’s financial performance but also its user base. Jain estimates that the company has lost millions of users since the ban was implemented.
“We had a huge user base, and we have lost a significant portion of it,” Jain said. “But we are hopeful that we will be able to get them back once we find a solution.”
Despite the challenges faced by Dream11, Jain remains optimistic about the future of the company. He believes that the ban is an opportunity for the company to rethink its business model and find new ways to succeed.
“This is a setback, but it’s not the end of the world,” Jain said. “We have a strong team, and we are committed to finding a solution. We will come back stronger and better than before.”
The ban has also had a broader impact on the fantasy sports industry, with many other companies facing similar challenges. Jain believes that the ban will ultimately benefit the industry by forcing companies to rethink their approach and find more sustainable models.
“I think this ban is a wake-up call for the industry,” Jain said. “It’s an opportunity for us to rethink our approach and find more sustainable models. We will come out stronger and better than before.”
In conclusion, the ban on real-money gaming has had a devastating impact on Dream11, with the company losing 95% of its revenue and 100% of its profits. However, CEO Harsh Jain remains optimistic about the future of his company and is committed to finding a solution. The ban is a setback, but it’s not the end of the world, and Jain believes that his company will come back stronger and better than before.
