We’ve Completed ‘Ghar Waapsi’, Shifted Domicile to India: Dream11
In a significant move, Dream11’s parent company, Dream Sports, has shifted its domicile from the United States to India. The fantasy sports company has joined the growing list of internet firms that have reversed their decision to list abroad and shifted back to their home country. The move is seen as a strategic one, allowing the company to gain more control over its operations and better serve its Indian users.
In an interview with Moneycontrol, a company spokesperson confirmed the news, stating, “We have completed a ‘ghar waapsi’ and are now an Indian domiciled business.” The term ‘ghar waapsi’ is a Hindi phrase that roughly translates to “returning home” and has become a popular buzzword in India’s startup ecosystem.
Dream Sports’ decision to shift its domicile to India is part of the growing trend of Indian startups reversing their decision to list abroad. PhonePe, Zepto, and Groww are some of the other companies that have made the switch in recent times. This trend is a reflection of the growing confidence of Indian entrepreneurs in the country’s business ecosystem and its potential for growth.
So, what prompted Dream11 to make this move? According to industry experts, the company’s decision to shift its domicile to India can be attributed to the country’s favorable business environment and the increasing demand for fantasy sports in the country. With the Indian Premier League (IPL) and other sports leagues gaining popularity, the demand for fantasy sports is on the rise, making India an attractive market for companies like Dream11.
Another factor that could have contributed to the company’s decision is the ability to better serve its Indian users. By shifting its domicile to India, Dream11 can gain more control over its operations and better understand the needs of its users. This can be particularly important for a company like Dream11, which relies heavily on user engagement and retention.
The move is also seen as a strategic one, allowing Dream11 to gain more control over its intellectual property and better protect its brand. By shifting its domicile to India, the company can better control its licensing agreements and partnerships, which is critical for a company that relies heavily on partnerships with sports leagues and teams.
Dream11’s decision to shift its domicile to India is also seen as a positive sign for the country’s startup ecosystem. The move demonstrates the growing confidence of Indian entrepreneurs in the country’s business environment and its potential for growth. It also shows that Indian startups are willing to take calculated risks and adapt to changing market conditions.
However, the move may also have its challenges. One of the biggest challenges that Dream11 may face is the potential for increased regulatory scrutiny. As a company that operates in the fantasy sports space, Dream11 may face increased scrutiny from regulatory bodies, which could impact its ability to operate in the country.
Another challenge that the company may face is the potential for increased competition. With more companies entering the fantasy sports space, the competition is likely to increase, making it difficult for Dream11 to maintain its market share.
Despite these challenges, Dream11’s decision to shift its domicile to India is seen as a positive one. The move is likely to boost the company’s operations and allow it to better serve its Indian users. It is also a reflection of the growing confidence of Indian entrepreneurs in the country’s business ecosystem and its potential for growth.
In conclusion, Dream11’s decision to shift its domicile to India is a significant move that reflects the growing confidence of Indian entrepreneurs in the country’s business ecosystem. The move is likely to boost the company’s operations and allow it to better serve its Indian users. It is also a positive sign for the country’s startup ecosystem, demonstrating the growing confidence of Indian entrepreneurs in the country’s business environment and its potential for growth.
