Dream11 eyes stock broking for next innings after gaming ban cripples core business: Report
Dream11 Group, once the undisputed leader in India’s fantasy gaming space, is preparing to make a bold pivot into the country’s stock broking industry after a government ban on online money games dealt a severe blow to its primary business.
According to a report in Mint newspaper, the Tencent-, TPG-, and Tiger Global-backed unicorn has applied for a licence to enter the stock broking business. The move comes as Dream11 looks to leverage its massive user base of over 260 million to tap into India’s fast-expanding retail investment landscape. “The company is looking to capitalize on its captive user base from before the real-money gaming ban. Online equity broking is a natural adjacency,” the Mint reported added.
