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FanCode gets $50 million funding from parent Dream Sports

Dream Sports, the parent company of online fantasy game platform Dream11, is looking to develop, build and scale multiple sports Technology businesses through an investment arm of last year. 

Defines an investment hand It is looking to back both in-house and external platforms that are beyond the core business of Dream11. Recently it has put 50 million dollars in its in-house sports content and commerce platform known as FanCode. 

FanCode was established in 2019 under the parent company by Yannick Colaco and Prasana Krishnan. The platform of first sports statistics and needed content to its 20 million user base. It is planning to use the investment to grow its user base to around 100 million by July 2022. Other than users it is also planning to expand the sports content beyond metro cities. 

The major mission behind this is to push a one-stop solution for sports and indicates its interest in expanding other verticals besides its core fantasy gaming business. 

The company also stated clearly that for now, we have no plans to initial public offering a. We want to go public as a sports Tech company, and for that, we need to have a substantial portion of our business coming from non-fantasy sports. 

Future Plans of FanCode 

The company is focusing to grow its subscriptions at a higher rate than the five times growth aimed for its audience base. The platform offers three main revenue streams known as live sports content, official sports merchandise, and sports analytics. 

It is also planning to provide a more comprehensive and seamless merchandising platform and add multiple teams sports and clubs. 

The founder stated that we are looking to expand it to a more comprehensive sports licensing and merchandising platform and IPL was the first phase of this.

Hands over all the investment will be utilized to become the largest sports demand aggregator platform in the coming future. 

Talking about internal infrastructure then it is planning to double its team size to 200 mainly strengthening its engineering and product development employee base across various roles as well as leadership positions.

The current partnerships that work collaboratively are National Football League, Cricket West Indies, New Zealand Cricket, NBA, and multiple IPL teams. It has live-streamed nearly 30,000 hours of sports content.

Moreover, Colaco said- “You also need linear broadcast, which we have no intention of ever getting into. So, we are both in the same ecosystem, but we are kind of filling in different needs right now,” Colaco said.

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