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Having Good Innings? Meet The 32 Startups High On IPL Frenzy This Year
Inc42
·
1y ago
Medial
A total of 32 startups will be participating in this year's Indian Premier League (IPL), marking a 68% increase from the previous year. Startups like Dream11, CRED, Upstox, and boAt have secured key sponsorships with various IPL teams. However, some startups, including The Souled Store, Unacademy, Swiggy Instamart, Open, and Cars24, have chosen not to participate in this year's IPL. The startup participation in the IPL is seen as a positive sign of an improving funding environment in the Indian startup ecosystem.
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JioCinema Gets 11.3 Cr Viewers On Day 1 Of IPL 2024
Inc42
·
1y ago
Medial
The Indian Premier League (IPL) 2024 has seen a significant increase in sponsorship deals with tech startups, with 32 startups associating with the tournament, a 68% rise from the previous year. The opening day of the IPL saw over 11.3 million viewers on Reliance-backed streaming platform JioCinema, experiencing a 51% YoY increase. JioCinema recorded 59 crore views and 660 crore minutes of watch time on the first day. The streaming platform had 18 sponsors and over 250 advertisers during the tournament. The Indian OTT streaming space is projected to reach $5.8 billion by 2029.
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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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Entrepreneurs Bowled Over By Opportunities as Cricket Fever Sweeps India
VCCircle
·
1y ago
Medial
The Indian Premier League (IPL) is not just a successful startup in itself, but also a source of opportunities for other startups. This year, over 30 startups are participating in the IPL, with 14 direct-to-consumer (D2C) startups associated with Mumbai Indians and Royal Challengers Bangalore. Despite fintech startups reducing their involvement, the IPL's massive viewership count of 505 million is too enticing to ignore. Startups also benefit from the Startup Power Play initiative by IPL broadcaster Star Sports, offering one startup per match day the opportunity to showcase a TV commercial. Cricketers like Sachin Tendulkar, Virat Kohli, and MS Dhoni are also investing in startup brands, particularly in the D2C, gaming, and fintech sectors. Sports tech and entertainment apps that analyze post-match content are also gaining traction. Overall, the IPL continues to provide opportunities for startups across various sectors.
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Disney Star dials up focus on ROI for brands ahead of IPL
Thehindubusinessline
·
1y ago
Medial
Disney Star, the official TV broadcaster of the Indian Premier League (IPL), is offering tailor-made ad packages to maximize return on investments (ROI) for brands. With an estimated reach of 505 million viewers and a 30% increase in TVR compared to the previous year, IPL on TV serves as a significant platform for brands. Brands have witnessed double-digit increases in brand recall and consideration scores through their association with IPL on TV. The broadcaster is seeing strong interest from various sectors and is also providing opportunities for startups and emerging brands to advertise during each IPL match.
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My11Circle Outbids Dream11 To Become Official Partner Of IPL
Inc42
·
1y ago
Medial
My11Circle, a fantasy gaming app, has secured a five-year partnership deal with the Indian Premier League (IPL), outbidding previous partner Dream11. My11Circle will pay INR 125 Cr annually for the rights, totaling INR 625 Cr over the contract period. The announcement from the Board of Control for Cricket in India (BCCI) is expected soon. In a separate development, the TATA Group has secured the title sponsorship rights for the IPL for the next five years, with a record-breaking value of INR 2,500 Cr. Dream11, on the other hand, reported a 32% increase in net profit for FY23 compared to the previous year.
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To make the most of IPL season: Small brands join team qcomm for maximum impact
Economic Times
·
3m ago
Medial
Around 300 small and regional brands have joined quick commerce and food delivery platforms to capitalize on the Indian Premier League’s (IPL) viewership boost. Brands like Troovy chips and Samyang Ramen aim to enhance visibility during the IPL season. While these platforms charge high margins from smaller brands, they offer an opportunity to reach new markets. Many dining brands use IPL as a chance for increased discoverability despite high fees, leveraging online-only promotions for growth.
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Startups dominate the list of Karnataka based companies in 2023: Hurun India Report
Thehindubusinessline
·
1y ago
Medial
According to the '2023 Burgundy Private Hurun India 500' report, startups dominate the list of Karnataka-based companies, with 61 companies in total, 35 of which are startups. The cumulative value of companies from Karnataka is ₹22 lakh crore, with Infosys being the most valuable company at ₹5.7 lakh crore. Swiggy, Zerodha, and Razorpay are among the top startups in Karnataka. The report highlights Bengaluru as a magnet for investment and a hub for high-growth potential. The total sales of Karnataka companies on the list increased by 32% compared to last year.
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Nvidia's dominance in AI chips deters funding for startups
Economic Times
·
1y ago
Medial
Nvidia's dominant position in AI chip development has led to an 80% drop in venture funding for would-be rivals. Investors are increasingly cautious about backing new chip startups, which now face more stringent demands, like having a product ready for launch or generating sales. The high cost of advancing chip designs and Nvidia's continued dominance have made investors more risk-averse. Despite this, some startups have attracted investment by highlighting potential customers or their relationships with industry experts. Meanwhile, AI software and related technology startups have received significant funding this year, signaling a divergence in investment trends within the AI sector.
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IPL Blues For Fantasy Gaming
Inc42
·
1y ago
Medial
Fantasy gaming apps in India are facing challenges in acquiring customers and marketing during IPL 2024 due to the impact of the Goods and Services Tax (GST). The clarity received last year regarding the 28% GST tax on real money gaming has led to cutbacks in marketing spends and layoffs for many startups in the fantasy gaming industry. The tax has resulted in a decline in user engagement and a drop in customer acquisition. As a result, fantasy gaming platforms are rethinking their strategies to avoid major losses during the IPL season.
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CCI Denies Interim Relief To Startups In Google Billing Case
Inc42
·
1y ago
Medial
The Competition Commission of India (CCI) has dismissed interim relief applications from startups seeking to restrict Google from imposing fees or commissions on developers as part of its updated payments policy. The CCI stated that the complainants did not meet the criteria for interim relief as outlined by the Supreme Court. This follows the CCI's recent order for an investigation into Google's high fees on its Play Store. Startups have been locked in a four-year dispute with Google over alleged anti-competitive behavior related to its dominant position in the Android ecosystem and Google Play App Store.
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