Fantasy sports have become a huge craze among young sports fans in India. Instead of only watching their favorite teams, fans now enjoy picking real players and creating their own virtual teams. Apps like Dream11 made this experience fun and rewarding. first through real-money contests, and now through free-to-play games after the 2025 online gaming law.
Founded in 2008, Dream11 changed how sports lovers connect with matches. Behind this successful company are two passionate founders – Harsh Jain and Bhavit Sheth. With their love for sports and sharp business vision, they built Dream11 into India’s first fantasy gaming unicorn, and later adapted it to new laws without losing its fanbase.
In this article, we’ll explore the inspiring story of Dream11’s founders, how the company grew, the big changes in 2025, and why it remains one of India’s most popular fantasy sports platforms.
Who are the Founders of Dream11?
Dream11 was started by two childhood friends — Harsh Jain and Bhavit Sheth. Both of them grew up as big sports fans.
They always enjoyed watching and talking about sports, especially cricket. But they didn’t just stop there — they turned their passion into a successful business.
Education and Early Career
Harsh Jain studied engineering at the University of Pennsylvania in the USA. Later, he completed his MBA from Columbia Business School. Before Dream11, he also started a digital agency called Red Digital, which was later bought by another company.
Bhavit Sheth is also well-educated. He studied engineering and did an MBA from Bentley University in Boston. He even did a course in e-commerce from Harvard University. Before Dream11, he worked in a few companies as an intern and later joined Harsh to start their big dream.
Shared Interest in Sports and Technology
Both Harsh and Bhavit loved sports and were also good with technology and business. This mix helped them create Dream11 — an app where people could use their sports knowledge to win rewards. Their shared goal was to change how fans enjoy sports in India.
The Dream11 Startup Story
In 2008, fantasy sports were still very new in India. Harsh, who had seen such games in the US, wanted to bring the same experience to India. He believed Indian sports fans would love it. He teamed up with Bhavit, and together, they started Dream11.
The Indian Premier League (IPL) played a big role in Dream11’s growth. The fast and exciting matches gave users a great chance to try fantasy gaming. People could pick real players from IPL teams, create their own team, and win based on their team’s performance.
In the beginning, it was not easy. Most people didn’t understand fantasy gaming. Some even thought it was gambling. Harsh and Bhavit had to work hard to explain how it worked and why it was legal. Many investors didn’t believe in the idea at first, but the founders kept going.
Dream11 Company Growth
When Dream11 started in 2008, it was very basic. But in 2012, they introduced a freemium model. That means people could play for free or pay to enter contests with real prizes. This model made the app more popular and brought in more users.
In 2019, Dream11 became the first Indian gaming company to join the unicorn club. A unicorn is a startup valued at over $1 billion. This was a big moment for Harsh, Bhavit, and the Indian fantasy gaming industry.
Dream11 has raised around $1.6 billion from investors in 8 funding rounds. Even big global companies like Tencent (from China) have invested in it. These funds helped Dream11 grow, improve its app, and reach more users.
Business and Revenue Model of Dream11
Dream11 earns money in different ways. The main income comes from entry fees that users pay to join contests. They also earn from ads, sponsorships, and other services.
Users can join both free and paid contests. If a user joins a paid contest, they pay a small amount. Dream11 keeps a part of this fee as their profit and gives the rest to the winners.
Dream11 also earns money through ads shown in the app and partnerships with sports leagues. For example, they have partnered with IPL teams and other sports events, which helps promote their brand and bring in more money.
Dream11’s Vision and Mission
Dream11’s mission is simple — they want to become the biggest and most loved fantasy sports platform in the world. They want users to enjoy the game and feel a part of it.
Their vision is to make fantasy sports a daily habit for fans. Just like watching a match or checking scores, they want fantasy gaming to be something fans look forward to.
Dream11 Founders: Journey and Achievements
Harsh comes from a strong business family. His father, Anand Jain, is a successful businessman and a close associate of the Reliance Group. This background gave Harsh good knowledge about how business works. But Harsh built Dream11 on his own skills and ideas.
Bhavit focused on making the app smooth, easy, and fun to use. His goal was to keep users happy and engaged. As the COO (Chief Operating Officer), he makes sure everything works well in the company.
Dream11 in 2025: Adapting to India’s Gaming Ban
In 2025, the Indian government introduced the Promotion and Regulation of Online Gaming Act, which banned all forms of real-money online gaming nationwide — including fantasy sports platforms like Dream11.
This marked a major turning point for the company. Instead of fighting the law, Dream11 chose to comply and pivot. All paid contests were discontinued, and the platform re-launched as a free-to-play fantasy sports app, offering rewards and engagement features without financial stakes.
The shift had wider consequences too. Dream11 was forced to end its ₹358 crore sponsorship deal with the BCCI, leaving Indian cricket without a title sponsor ahead of the Asia Cup. While some gaming companies pursued legal challenges against the new rules, Dream11’s co-founders Harsh Jain and Bhavit Sheth opted for a cautious and responsible approach, focusing on compliance and long-term survival.
This decision reflects the founders’ adaptability — the same quality that helped them build India’s first fantasy sports unicorn back in 2008. Even under new restrictions, Dream11 continues to engage millions of sports fans, showing that the brand’s story is far from over.
Their Role in the Indian Gaming Industry
Together, Harsh and Bhavit helped grow the fantasy gaming industry in India. They also support other startups through their parent company, Dream Sports, which owns Dream11 and other sports tech brands.
Competitors and Market Position
There are many fantasy sports platforms in India, like MPL, FanMojo, Ballebaaz, and HalaPlay. All of them offer similar features, but Dream11 is the biggest.
What Makes Dream11 Different
Dream11 became popular because it was easy to use, trustworthy, and offered a great experience. They were also the first to start, which gave them an early advantage.
Why Users Trust and Prefer Dream11
Users trust Dream11 because of its clear rules, quick payments, and good customer support. Also, Dream11 is legal in India, which makes people feel safe while using it.
Dream11 Stats in A Nutshell
Dream11 has a large team with 500 to 1,000 employees, as per LinkedIn. The team includes engineers, designers, marketers, and more — all working to make the app better every day.
Today, Dream11 has more than 15 crore (150 million) users. That means millions of people in India used the app to play fantasy sports.
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Conclusion: Harsh Jain and Bhavit Sheth Are The Minds Behind Dream11!
Harsh Jain and Bhavit Sheth showed how passion for sports and sharp business instincts can build something game-changing. Starting in 2008, Dream11 grew from a small idea into India’s first fantasy gaming unicorn, reshaping how fans engage with cricket, football, and more.
What makes their story stand out is not just the success but their ability to adapt. When India’s 2025 gaming law banned real-money contests, Dream11 quickly pivoted to a free-to-play model, proving the founders’ resilience and focus on the long run.
For sports fans, Dream11 still offers a way to feel closer to the action. And for entrepreneurs, the founders’ journey is a reminder that innovation and adaptability are just as important as ambition. One thing is certain. Dream11 has already changed the game, and its next chapter is still being written.
FAQs
Dream11 was started in 2008 by Harsh Jain and Bhavit Sheth, two friends who loved sports and tech.
Dream11 earns mainly through contest entry fees. They also make money from ads and brand deals.
Dream11 is legal and safe. Many people across India play on it daily.
Dream11 has over 15 crore (150 million) users across India.
Dream11 became popular because it was fun, easy to use, and gave users a chance to win rewards using their sports knowledge.
