Dream11 looks to enter online rummy
The fantasy sport giant, flush with funds, is in talks with multiple rummy startups in a bid to expand its real-money gaming lines.
Why read this story?
Editor's note: For many years now, online rummy in India has made decent money, been caught up in multiple regulatory fights and not received as much attention as other real-money gaming verticals, especially from big-ticket investors. That could be changing soon. According to two people in the know, who asked not to be named, fantasy sport company Dream11 is in talks to acquire an online rummy company and enter the space. Valued at more than $8 billion in its latest funding round this year, Dream11 dominates fantasy sport and is the most prominent real-money gaming startup in India. At the same time, companies like RummyCircle, Ace2Three and Rummy Passion have witnessed substantial growth, since even before the pandemic. Venture capital firm Matrix Partners, for instance, had exited Ace2Three with a return of 20x of their original investment a couple of years ago. Games24x7, the company that runs RummyCircle, generated Rs 1,417 crore in revenue from operations and Rs 351 crore in profit after tax in 2019-20, the latest fiscal year for which filings are available. According to industry executives, the majority of …
More in Internet
You may also like
Eternal, Swiggy, Zepto are all unskilled worker arbitrage businesses
Exploitation of unskilled workers is at the heart of quick-delivery service businesses in India. They should be valued for what they are and not what they pretend to be, a trait that has taken a devious form of wanting it both ways.
Indian consumer startups end 2025 on a high. Next year may not be so easy.
Stories of great outcomes and easy funding kept the sector on its toes. The momentum is expected to continue going into 2026, but startups may need to rethink their strategy.
FabHotels pivoted to corporate travel for survival. Can it grow?
The challenges of running a budget hotel chain in India forced the decade-old company to quietly shift its focus to a travel management platform for corporate travellers. Now it must face challenges of another kind.