Bhavit Sheth, co-founder and COO of Dream Sports, co-founded Dream11 with Harsh Jain in 2008 and helped build its operational and user-focused business infrastructure.
Bhavit Sheth co-founded Dream11 with Harsh Jain and helped build Dream Sports into a wider sports-tech company. Explore his career, funding and strategy.
Written by TFN Research Desk | covering startups, technology, venture capital, and business strategy.
Table of Contents
- Who is Bhavit Sheth?
- Early Life and Education
- Career Before Dream11
- How Dream11 Started
- Funding History
- Revenue Growth and Recent Developments
- Dream Sports’ Expansion
- Dream Sports vs Competitors
- Investor Perspective
- Founder Timeline
- Key Takeaways
- FAQs
- The Take Nobody In The Industry Wants To Say Out Loud
- Sources
- SEO Metadata Block
Who is Bhavit Sheth?
Bhavit Sheth is the Co-founder and COO of Dream Sports, the parent company of Dream11. He co-founded Dream11 with Harsh Jain in 2008 and has been closely involved in the company’s operations, business strategy and expansion. Under Sheth and Jain, Dream11 became the flagship business of Dream Sports, which has since expanded into a wider sports-technology ecosystem.
Early Life and Education
Sheth holds a Bachelor of Engineering degree in Production and Industrial Engineering from D.J. Sanghvi College of Engineering. He later completed an MBA in Corporate Finance from Bentley University and a Diploma in E-commerce Strategies from Harvard Summer School.
His education combined engineering, finance and digital commerce. That mix became relevant as Dream11 developed from an early fantasy-sports concept into a technology-driven consumer platform.
Career Before Dream11
Before Dream11, Sheth co-founded Red Digital, a digital agency that worked with brands including Mumbai Indians, BMW and PepsiCo.
Working with major consumer and sports brands gave Sheth experience in digital marketing, business development and client management. Those skills became useful when Dream11 needed to introduce fantasy sports to a market that was still unfamiliar with the concept.
The challenge was not simply developing the technology. The founders also needed to convince sports fans that fantasy sports could become a regular part of their engagement with cricket and other competitions.
How Dream11 Started
Sheth co-founded Dream11 with Harsh Jain in 2008. The company entered the market at a time when fantasy sports were still an emerging category in India.
Dream11 allowed users to create fantasy teams based on real-world athletes and earn points according to their performances. The model created an additional layer of participation around live sporting events.
As internet access, smartphones and digital payments expanded across India, the addressable market for fantasy sports grew rapidly.
Sheth became closely involved in operations and business strategy as the platform scaled. His role complemented Jain’s focus on the company’s broader vision and growth.
Dream11 eventually became the flagship company of Dream Sports, giving the founders an opportunity to build businesses across multiple parts of the sports ecosystem.
Funding History
| Round | Year | Amount | Lead Investors |
|---|---|---|---|
| Series A | 2018 | $100 million | Tencent |
| Series B | 2019 | $60 million | Steadview Capital |
| Series C | 2021 | $400 million | Falcon Edge, TCV and others |
| Series D | 2021 | $840 million | Multiple investors |
Dream Sports attracted significant institutional investment as fantasy sports became increasingly popular in India.
The company’s major 2021 funding round valued Dream Sports at approximately $8 billion, placing it among India’s most valuable privately held consumer internet companies at the time.
Revenue Growth and Recent Developments
| Fiscal Year | Revenue | Net Profit/Loss |
|---|---|---|
| Latest publicly disclosed | Not publicly disclosed | Not publicly disclosed |
Dream Sports is privately held, so detailed consolidated financial figures are not consistently publicly disclosed.
The group has nevertheless continued expanding beyond Dream11. Its broader portfolio includes FanCode, DreamSetGo, Dream Cricket and the Dream Sports Foundation.
This diversification gives Dream Sports exposure to multiple areas including sports content, commerce, travel, cricket and sports development.
Dream Sports’ Expansion
Dream11 remains the group’s best-known business, but Dream Sports has increasingly positioned itself as a broader sports-technology organisation.
FanCode focuses on digital sports content and experiences, while DreamSetGo provides sports travel and hospitality experiences. Dream Cricket and other initiatives allow the company to participate in additional parts of the sports ecosystem.
Sheth’s operational role is particularly relevant to this expansion because managing multiple businesses requires systems, teams and processes that can scale beyond the original Dream11 platform.
Dream Sports vs Competitors
| Company | Founded | Positioning |
|---|---|---|
| Dream11 | 2008 | Fantasy sports |
| My11Circle | 2019 | Fantasy sports |
| MPL | 2018 | Mobile gaming and esports |
| WinZO | 2018 | Social and casual gaming |
Dream11’s early entry into India’s fantasy-sports market helped it build substantial brand recognition, particularly around cricket.
The wider competitive environment is more complicated. Fantasy sports companies operate alongside gaming platforms and other forms of digital entertainment, competing for users’ time and spending.
Regulation is another important factor. Changes in taxation and gaming regulations can significantly affect the economics of the sector.
Investor Perspective
Sheth’s strongest qualification is his combination of digital-business experience and operational leadership. His work at Red Digital exposed him to consumer brands before he entered the fantasy-sports market.
At Dream11, his role has involved scaling operations and helping turn the original product into a larger sports-technology ecosystem.
The opportunity remains significant because India’s sports audience is enormous and increasingly digital. Dream Sports’ broader portfolio also provides opportunities beyond fantasy sports.
The main risk is regulatory uncertainty. Real-money gaming businesses can face changes in taxation and legal treatment, which can directly affect margins and user behaviour.
There is also a diversification risk. Building several sports businesses can create new revenue streams, but it can also spread management attention and capital across businesses at different stages.
Founder Timeline
- Before 2008: Co-founds Red Digital and works with major consumer and sports brands.
- 2008: Co-founds Dream11 with Harsh Jain.
- 2018: Dream Sports raises $100 million from Tencent.
- 2019: Dream Sports raises $60 million from Steadview Capital.
- 2021: Dream Sports raises major funding and reaches approximately $8 billion valuation.
- 2021 onward: Dream Sports expands its portfolio beyond Dream11.
- 2026: Sheth continues as Co-founder and COO of Dream Sports.
Key Takeaways
- Bhavit Sheth co-founded Dream11 with Harsh Jain in 2008.
- He currently serves as Co-founder and COO of Dream Sports.
- He previously co-founded Red Digital.
- His responsibilities have included operations and business strategy.
- Dream Sports has expanded beyond Dream11 into several sports-focused businesses.
FAQs
Who founded Dream11?
Harsh Jain and Bhavit Sheth co-founded Dream11 in 2008.
What is Bhavit Sheth’s current role?
He is Co-founder and COO of Dream Sports, the parent company of Dream11.
When was Dream11 founded?
Dream11 was founded in 2008.
Where did Bhavit Sheth study?
He studied Production and Industrial Engineering at D.J. Sanghvi College of Engineering and completed an MBA in Corporate Finance at Bentley University.
What did Bhavit Sheth do before Dream11?
He co-founded Red Digital, a digital agency that worked with brands including Mumbai Indians, BMW and PepsiCo.
What does Dream Sports do?
Dream Sports operates a portfolio of sports-focused businesses, with Dream11 as its flagship platform.
What companies are part of Dream Sports?
The group’s portfolio includes Dream11, FanCode, DreamSetGo, Dream Cricket and the Dream Sports Foundation.
How much funding has Dream Sports raised?
Dream Sports has raised several major institutional funding rounds, including substantial financing in 2021.
Is Dream Sports profitable?
Current consolidated revenue and profitability figures are not publicly disclosed.
What is Bhavit Sheth’s net worth?
His current personal net worth is not publicly disclosed.
What is Bhavit Sheth known for?
He is best known for co-founding Dream11 and helping build Dream Sports into a broader sports-technology company.
What is Red Digital?
Red Digital was a digital agency co-founded by Sheth before Dream11 that worked with brands including Mumbai Indians, BMW and PepsiCo.
The Take Nobody In The Industry Wants To Say Out Loud
Our editors weigh in.
Bhavit Sheth’s role in Dream11’s story is less visible than the consumer-facing brand itself, but operational execution is what turns an idea into a large business. His experience at Red Digital gave him exposure to major brands before he entered fantasy sports, while Dream11 gave him the opportunity to apply that experience at massive scale. The uncomfortable part is that Dream Sports’ size also creates new pressure. Fantasy sports remains exposed to regulatory and taxation changes, while the broader portfolio now contains businesses with very different economics. Diversification can protect the group from dependence on Dream11, but it can also create management complexity. Sheth’s real challenge is ensuring that Dream Sports’ expansion produces sustainable businesses rather than simply a larger collection of sports ventures. The next phase will require disciplined execution as much as aggressive growth.
Sources
- Dream Sports, Official Company Website
Dream Sports - Dream Sports, Leadership and Company Information
Dream Sports Leadership - Dream11, Official Website
Dream11 - Dream Sports, Portfolio
Dream Sports Portfolio - Dream Sports Foundation, Leadership
Dream Sports Foundation - Tencent, Dream Sports Investment
Tencent - Economic Times, Dream Sports Funding
Economic Times - TechCrunch, Dream Sports Funding and Valuation
TechCrunch
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