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Dream11 Enters WinZO & MPL’s Turf With Foray Into Casual Real Money Gaming
Inc42
·
22d ago
Medial
Dream11 has entered the casual real money gaming market with a new app, 'Dream Play,' launched in May. This app allows users to play carrom and win cash prizes, with plans to add more games like pool. The move is part of Dream11's strategy to diversify its offerings as the real money gaming sector in India faces challenges due to GST issues. Dream11 had also launched 'Dream Picks,' a real money fantasy app, earlier.
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Harsh Jain's Dream11 enters casual real money gaming segment with Dream Play
IndianStartupNews
·
20d ago
Medial
Dream Sports, the company behind Dream11, has ventured into India's casual real-money gaming market with Dream Play, a new platform offering games like Carrom and Pool. Available on Google Play Store and App Store, Dream Play features various game modes and Mega Contests with cash prizes. This move positions Dream Play against established competitors like MPL and WinZO. Dream Sports, valued at $8 billion, reported significant revenue growth, further diversifying its offerings beyond fantasy sports.
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Krafton enters Indian casual gaming segment with CookieRun, plans $140 million investment in startups
Economic Times
·
7m ago
Medial
Korean gaming company Krafton announced its foray into the casual gaming segment with the launch of CookieRun in India. The game will feature India-themed characters and is tailored for Indian players. Krafton also revealed plans to invest $140 million in Indian gaming and entertainment startups over the next 12-18 months. The company aims to introduce 3-4 new game titles in India by 2025 and will onboard startups through its Krafton India Gaming Incubator (KIGI) program.
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CCI orders probe against Google on Winzo’s complaint
Economic Times
·
7m ago
Medial
The Competition Commission of India (CCI) has ordered an investigation into Google for potential antitrust violations following a complaint by online gaming company Winzo. The investigation will look into allegations of Google's abuse of its dominant position and restrictive policies towards online gaming companies. Winzo claims that Google's Developer Distribution Agreement and Developer Program Policies contain unreasonable conditions, and that the Play Store restricts hosting of gaming apps offering real money games in India. The CCI has instructed its director general to submit a report within 60 days.
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CCI questions Google’s ‘arbitrary’ policies on real-money gaming
YourStory
·
7m ago
Medial
The Competition Commission of India (CCI) is investigating Google for alleged anti-competitive behavior following complaints by Winzo Games. Winzo Games claims that Google abused its dominant market position in app distribution, payment systems, and advertising. The CCI will specifically examine Google's Play Store policies and its treatment of real-money gaming (RMG) apps. Winzo Games alleges that Google unfairly limited the availability of RMG apps, resulting in a loss of business for the company. Google defended its actions, citing regulatory uncertainties. The CCI raised concerns about Google's justifications and highlighted potential competition concerns. The investigation will conclude within 60 days.
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India’s gaming landscape: Monetisation trends and evolving user dynamics
Inc42
·
1y ago
Medial
India's gaming industry has experienced substantial growth, with revenues projected to reach $7.5 billion by FY28. In-app purchases and in-game advertising contribute to this growth, with $1.1 billion currently coming from casual and mid-core games and expected to reach $5 billion by FY28. Additionally, the evolution of users and their increased affinity towards casual and mid-core gaming, especially in non-metro cities, has driven monetization. The average time spent on gaming has increased by 20% to 10-12 hours per week, and there has been a 25% conversion of gamers to paid users. UPI has emerged as a preferred payment method for gamers, and diverse genres, including casual, mid-core, and real money gaming, are seeing increased investment from players.
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Winzo ends FY23 with Rs 674 Cr revenue and Rs 126 Cr PAT
Entrackr
·
1y ago
Medial
Online gaming startup Winzo registered 2.8X growth in its scale during the fiscal year ending March 2023. Significantly, the Delhi-based company also posted a hefty profit of Rs 126 crore in the same period. Winzo’s revenue from operations surged to Rs 674 crore in FY23 from Rs 234 crore in FY22, its consolidated financial statements filed with the Registrar of Companies show. Established in 2018, Winzo offers over 100 games across categories such as strategy, sports, casual, card, arcade, racing, action, and board games. The service fees levied on the total funds involved in real money games, and the sale of digital or in-app vouchers were the only revenue drivers for Winzo. The company also made Rs 16.78 crore from interest (non-operating), taking its total revenue to Rs 691 core in FY23. Similar to every online gaming platform, Winzo spent a major chunk (46% of its total expenditure) on marketing (advertising cum promotions). This cost surged 29.6% to Rs 258 crore in FY23. The firm’s burn on employee benefits, legal-professional, commission paid to agents, direct gaming costs, and other overheads catalyzed its overall expenditure to Rs 564 crore in FY23 from Rs 375 crore in FY22. See TheKredible for the complete expense breakdown. Expense Breakdown Total ₹ 375 Cr https://thekredible.com/company/winzo-games/financials View Full Data To access complete data, visithttps://thekredible.com/company/winzo-games/financials Total ₹ 564 Cr https://thekredible.com/company/winzo-games/financials View Full Data To access complete data, visithttps://thekredible.com/company/winzo-games/financials Employee benefit Employee benefit Information technology Information technology Legal professional Legal professional Commission paid to other selling agents Commission paid to other selling agents Advertising promotional Advertising promotional Gaming related direct cost Gaming related direct cost Others To check complete Expense Breakdown visit thekredible.com View full data Caveat: We have excluded the cost of financial liabilities designated at fair value through profit and loss (CCPS) while calculating the total expenses for both years (FY23 and FY22). That said, a notable jump in scale helped Winzo report Rs 126 crore profit in FY23 as compared to a loss of Rs 130 crore in FY22. Its ROCE and EBITDA margin improved to 27% and 19% respectively. On a unit level, the company spent Rs 0.84 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -53% 19% Expense/₹ of Op Revenue ₹1.60 ₹0.84 ROCE -39% 27% Winzo has raised around $100 million to date including a $65 million Series C round led by California-based Griffin Gaming Partners in July 2021. According to the startup data intelligence platform TheKredible, Makers Fund is the largest external stakeholder with 15.77% followed by Griffin Gaming Partners and Courtside Ventures. The significant jump in profits for Winzo underscores the best case scenario for most gaming platforms today. A high fixed cost business till it achieves critical mass in terms of users and fees, and post that, very low cost increases, as most of the incremental money goes to the bottomline. For Winzo, however, future investments will beckon soon, both in terms of new game development as well as the high marketing spends, which it will find tough to tamp down for now. But with a growing gamers user base across the country and with itself, next only to China, maintaining margins may not be as tough. You can be sure that if it does so in FY24, India will have its next high growth Unicorn from gaming to talk about.
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TIGA Gets CCI Nod To Acquire Stake In Dream11, Tencent To Offload Entire Stake
Inc42
·
9m ago
Medial
Tiga Investments has received approval from the Competition Commission of India (CCI) to acquire a stake in Dream Sports Inc, the parent company of real money gaming major, Dream11. This transaction involves Tiga Acquisition Corp III purchasing preferred stock and certain rights from an existing shareholder of Dream Sports. Additionally, it has been reported that Tencent Holdings, a backer of Dream11, is considering selling its entire stake in Dream Sports.
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WinZO concludes 4th ESOP buyback
Entrackr
·
9m ago
Medial
Online gaming startup Winzo has announced the completion of its fourth round of employee stock options plan (ESOP) liquidation. This initiative allows eligible employees, approximately 30% of WinZO’s workforce, comprising team members with at least two years of tenure, to liquidate their vested ESOPs. In the last 12 months, the company has filed more than 25 technology patents across the world for its supercomputing technology, real-time communication innovation, and AI applications in content creation. Established in 2018, Winzo offers over 100 games across categories such as strategy, sports, casual, card, arcade, racing, action, and board games. Previously, WinZO conducted three rounds of ESOP liquidation in 2021 and 2023. With a team of 200 members, WinZO has raised $100 million in cumulative funding from leading investors, including Griffin Gaming Partners, Maker’s Fund, Courtside Ventures, and Kalaari Capital. According to data intelligence platform, TheKredible, Winzo’s revenue from operations surged to Rs 674 crore in FY23 from Rs 234 crore in FY22. Similar to every online gaming platform, Winzo spent a major chunk (46% of its total expenditure) on marketing (advertising cum promotions). This cost surged 29.6% to Rs 258 crore in FY23. Recently, Whatfix rolled out a $58 million liquidity program for its employees and investors. In the ongoing calendar year, Swiggy, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, Purplle, Dehaaat, Leverage Edu, Pocket FM and Adda247 bought back ESOPs from their employees.
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Dream11 Shines On IPL Debut, Onboards 1.1 Mn New Users
Inc42
·
1y ago
Medial
Dream11, the popular fantasy sports platform, reported onboarding 1.1 million new users on the first day of the Indian Premier League (IPL) tournament, with a total of 15.01 million concurrent users. Dream11 has partnered with eight IPL teams for sponsorship this year and has witnessed significant growth in female users. The company faces a regulatory battle over taxation in the real money gaming sector and received a show cause notice from the Directorate General of GST Intelligence regarding the tax rate to be applied. Despite this, Dream11 reported a 32% increase in net profit for FY23.
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Gameskraft, Nazara, MPL, AIGF and others request govt to reconsider 28% GST on real-money gaming
Money Control
·
2y ago
Medial
India's leading real-money gaming startups, including Dream11, Paytm First Games, and MPL, have appealed to the government to reconsider the decision to impose a 28% Goods and Services Tax (GST) on their industry. They argue that the high tax rate would hinder their ability to operate and discourage users from participating in online gaming platforms, impacting the growth of the sector.
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