Good morning, it's Friday and unfortunately for y'all I don't have any fundraising news today. We do have some cricket news with Dream11 winning the bid to the tournament's title sponsorship & Google launching an app to help folks get jobs.
➡️ Fantasy sports platform Dream11 had the winning bid for the title sponsorship of the latest season of the Indian Premier League outbidding other competitors and paying Rs. 222 Cr.
➡️ The company was founded in 2008 and already has 80M users and is also India's fist gaming unicorn. And while consumers might have previously been aware of the company, they will see the app front and center throughout the tournament, which is set to begin in a month.
➡️ The company already has Dhoni as their brand ambassador and I think it'd be really interesting to see how much more consumers will use the app during the pandemic. 60-70% of the company's revenue already comes from the IPL.
➡️ The slight concern I have with this is that Dream11 has only raised a total of $100M so they would be spending ~30% of the total capital raised on a 45 day event (it seems like a pretty big bet).
➡️ On the other hand, I think the IPL this year is going to be huge with a lot of folks sitting bored at home. And while some folks in the US are kinda treating Robinhood as a "gambling" app, I can definitely see people spending a lot of time & money on Dream11.
2. https://tcrn.ch/3gcxKFn : Google launches a job searching app in India
➡️ Google has expanded their jobs app, called Kormo, to the Indian market with the pandemic affecting India's unemployment rate.
➡️ The company first launched the product in Bangladesh 2 years ago and later expanded to Indonesia. Kormo was also available as a Spot on Google Pay (a fact that I discovered last week) and is now making the app available as a standalone product in India.
➡️ Companies (including Zomato & Dunzo) have posted over 2M jobs on the platform. The platform helps users identify entry-level jobs, as well as pick up new skills and create a CV.
➡️ I don't know how effective the platform will be in helping folks get jobs, but with record unemployment in the nation any platform that helps Indians get jobs is great.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/anmolm_/status/1296325582049820673
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