It’s a Knockout Punch, Lost 95% Revenue & 100% Profits: Dream11 CEO on Real Money-Gaming Ban
In a recent interview, Harsh Jain, Co-Founder and CEO of Dream11, expressed his sentiments on the government’s decision to ban real-money gaming. Jain called the ban a “knockout punch” but maintained that he remains a “delusional optimist”. He emphasized that while the ban has dealt a significant blow to the company, it does not mean the end of Dream11.
The Impact of the Ban
Dream11’s current business model, which accounted for 95% of the company’s revenue and 100% of its profits, has been severely impacted by the ban. Jain acknowledged that the loss of revenue and profits is a significant setback, but he is determined to focus on the future.
“We’re going to work on…future. But yes, 95% of our group’s revenue…and basically 100% of…profit was coming from Dream 11’s current business model,” Jain said in the interview. However, he was quick to add that the ban does not mean the end of the company.
A Delusional Optimist
Despite the significant challenges, Jain remains optimistic about the future of Dream11. He believes that the company has the potential to adapt and evolve to the changing landscape.
“I’m a delusional optimist. I think when the going gets tough, the tough get going. And we’re going to get going,” Jain said. His optimism is not unfounded, as the company has already started exploring new opportunities.
New Opportunities
Dream11 has been expanding its services beyond fantasy sports, and the ban has provided an opportunity to focus on these new initiatives. Jain emphasized that the company is committed to innovation and is exploring new areas such as esports, online gaming, and more.
“We’re exploring new areas, new formats, new products. We’re not just sitting back and saying, ‘Oh, the government has banned us, let’s just shut shop’. We’re not going to do that,” Jain said.
Challenges Ahead
While Jain remains optimistic, the road ahead will not be easy. The company will need to navigate the complexities of the new regulatory landscape and adapt to the changing preferences of its users.
Dream11 will also need to contend with the competition from other gaming companies that are already established in the market. The company’s ability to innovate and adapt quickly will be crucial in this regard.
Conclusion
The ban on real-money gaming has dealt a significant blow to Dream11, but the company’s CEO remains committed to the future. Jain’s optimism is infectious, and his commitment to innovation and adaptation is a testament to the company’s resilience.
As the company navigates the challenges ahead, it will be interesting to see how it adapts to the new regulatory landscape and explores new opportunities. One thing is certain, however – Dream11 is not going down without a fight.
