Dream Sports eyeing to become a sports-tech firm

Dream11’s parent company — Dream Sports is eyeing for the creation of several sports-technology businesses through an investment arm, which it had set up in the year 2020.

Dream Sports Investment is now aiming expand its business apart from its core fantasy gaming business of Dream11.

Through its investment arm, Dream Sports has put $50 million in its in-house sports content and commerce platform — FanCode, which was incorporated in 2019, offers sports statistics and content to its users.

As per its new plan, Dream Sports is now planning to use fresh funds to rise up its user base to 100 million from the current 20 million by July 2022.

Meanwhile, it is also aiming to expand its sports content and commerce in the semi-urban areas and other two-tier cities.

Significantly, the company wants to grow its subscriptions at a higher rate than the five times growth aimed for its user base.

The company’s three revenue streams are live sports content, official sports merchandise, and sports analytics and insights.

At present, Fancode is the only platform hosting the official merchandise of all eight IPL teams.

Also, the company is looking to expand its team strength, strengthen its engineering and product development team across various roles as well as leadership positions.

Dream Sports is now aiming to continue its investment in health and sports and related technology.

News Desk

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