Sometimes, the path to success is paved not with immediate victories but with relentless determination, lessons from failure, and an unshakable belief in one’s vision. Harsh Jain’s remarkable journey from rejections and setbacks to building a company now valued at 65,000 crores is nothing short of extraordinary. It’s a story of grit, innovation, and a dream that refused to be denied.
Dream11- A Humble Beginning with Big Dreams
For Harsh Jain, entrepreneurship wasn’t an inherited path but a personal calling. After completing his studies in economics at the University of Pennsylvania and gaining experience at Microsoft, Harsh returned to India in 2007 to join his family’s steel manufacturing business. Yet, even as he managed marketing at Jai Corp, something didn’t feel right.
A self-confessed sports enthusiast, Harsh was captivated by the popularity of fantasy leagues abroad, especially for football. At the same time, the Indian Premier League (IPL) was making waves and revolutionizing cricket in India. Harsh spotted a gap—there was no platform that allowed cricket fans to engage in fantasy sports on a large scale. The timing felt perfect. With the IPL gaining momentum, Harsh was ready to take a leap of faith.
The Birth of Dream11 and the First Setback
In 2008, Harsh teamed up with his childhood friend, Bhavit Sheth, and launched Dream11. The concept was simple yet exciting: an app where users could create fantasy cricket teams, read blogs, and compete for fun, all while the company generated revenue through advertisements.
At first, things looked promising. Dream11 garnered 10,000 users in its very first year, a sign that the concept had potential. However, there was a glaring problem—no ad revenue. Fantasy sports were still a foreign concept to most Indian users, and the platform struggled to monetize. Disheartened but not defeated, Harsh pivoted away from Dream11 to focus on another venture: Red Digital, a social media agency. This project succeeded and was eventually acquired by Gozoop, but Harsh’s mind remained on fantasy sports. He wasn’t ready to let go of his original vision.
Learning from Failure and Betting on a New Model
Determined to make Dream11 work, Harsh returned to the idea with a fresh perspective. Instead of relying solely on ads, he adopted a freemium model where users could enter contests with a small fee—starting as low as ₹11—and compete for cash prizes. More importantly, Harsh moved away from seasonal fantasy leagues and introduced daily contests, allowing fans to create teams for individual matches. Dream11 would then take a percentage as commission.
This new approach struck a chord. By 2013, Dream11 had over a million users. It was clear that the freemium model was working, but Harsh faced another daunting challenge: funding.
A Deluge of Rejections
Over the next year, Harsh pitched Dream11 to countless investors, only to be rejected 150 times. Many doubted whether fantasy sports had a scalable future in India. Others questioned the sustainability of the model. But Harsh believed in the potential of fantasy sports as more than just a passing trend. He knew that if he could educate users, expand into other sports, and build trust, Dream11 could become a household name.
Finally, in 2014, Dream11 secured its first investment from Kalaari Capital and Think Investments. This initial round valued the company at ₹77 crore—a small but critical milestone on the road to success.
Scaling Up and the Unicorn Moment
With funding in place, Dream11 rapidly expanded. By 2016, it had reached two million users and was adding new sports such as football and basketball to its platform. Harsh and his team also focused on strengthening their brand by bringing in high-profile ambassadors like MS Dhoni.
By 2018, Dream11 had achieved a major milestone: 41 million users and a $100 million investment led by Tencent. Revenues soared to over ₹800 crore, cementing Dream11’s position as the leader in India’s fantasy sports market.
Then, in 2019, the company reached a historic milestone. On April 8th, Dream11 became India’s first gaming unicorn after securing a ₹400 crore investment from Steadview Capital. With a valuation exceeding $1 billion, Harsh’s dream was now a reality.
Dominating the Market
As Dream11 continued to grow, it evolved into more than just a fantasy sports platform. It became a cultural phenomenon. The platform reached 100 million users, generated ₹2,706 crore in revenue, and posted a net profit of ₹329 crore by 2021.
Today, Dream11 commands an 85% share of India’s fantasy sports market, serving over 200 million users and setting the standard for the industry. From its humble beginnings in a crowded cricket market, Dream11 has transformed the way fans engage with sports, turning passive viewers into active participants.
A Testament to Resilience
Harsh Jain’s story is a testament to the power of resilience and the importance of embracing failure as a stepping stone to success. Each rejection, each setback, and each pivot taught him valuable lessons, allowing him to refine his vision and build a company that is now worth ₹65,000 crore.
Through sheer determination and a commitment to delivering an exceptional experience for sports fans, Harsh turned a nascent idea into a booming business. His journey reminds us that the road to success is rarely straightforward, but with perseverance, belief, and an unwavering focus on innovation, the destination can be truly extraordinary.
The Dream Player
Harsh Jain has proven that the only limit to what you can achieve is the one you set for yourself. By overcoming the odds and sticking to his vision, he didn’t just create a company; he created a legacy in the world of sports and entertainment. For sports fans across India, Dream11 isn’t just a platform—it’s the embodiment of a dream that refused to be defeated.
