Baazi Games infuses $1 million in BalleBaazi
A lot of companies, big and small alike, have ventured into the fantasy sports space in recent months. The reason for this focus on this industry is clear. Cricket is taking the country, and the world by a storm this year. IPL 2019 began last month and that has all the fanatics glued to the TV, and with the upcoming 2019 World Cup, the industry is expected to return huge profits to anyone who can tame it.
PokerBaazi, one of the biggest online poker companies, had started BalleBaazi last year and even the Android app was launched in October. Its parent company Baazi Games have announced a $1 million (~INR 6.9 Crores) investment in BalleBaazi, not a surprise.
Navkiran Singh, CEO of Baazi Games said, “Baazi Games has recently invested $1 million in BalleBaazi owing to the tremendous scope in the segment of fantasy sports in India. We, as an online gaming startup in India, aim to expand our services at a time when the industry is witnessing a massive rise in numbers.”
BalleBaazi boasts of having about 10 Lakh users who engage on their platform. Saurabh Chopra, CEO and co-founder of BalleBaazi said, “We are happy to strengthen our bond with the Baazi Games. BalleBaazi has come a long way in the last year since its inception and this association has definitely helped us. Both the companies share the same DNA with 'Player First' as our primary approach.”
This comes at a time when Delta Corp, which owns and operates Adda52, a competitor of PokerBaazi, bought a minority stake in HalaPlay recently. Other new entrants in this industry include Yahoo Cricket, Scoring11, Fan Super League, Paytm (not real money based), KhelChamps, etc. Dream11 recently became India’s only gaming unicorn when it acquired investment from Steadview Capital.
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