Third Unicorn, the new venture of former BharatPe co-founder and Managing Director Ashneer Grover, has launched CrickPe, a fantasy sports app aimed at taking on industry leaders Dream11 and Mobile Premier League (MPL). The app was launched ahead of the Indian Premier League (IPL) 2023, which is set to begin on March 31. CrickPe will charge a 10 percent platform fee on the total funds received for any public or private contest. Players aged 18 and above can create virtual teams of cricket players and enter paid contests to win cash prizes. CrickPe is available to download via Google Play and App Store.
According to its description on Google Play, CrickPe is the only fantasy cricket app in the world where actual playing cricketers, cricketing bodies, and real team owners win cash rewards with every match, along with the fantasy game winners.
India is the world's biggest fantasy sports market with a user base of over 13 crore, and the online fantasy sports market is currently dominated by Dream11. Grover and his wife, Madhuri Jain Grover, launched CrickPe to grab a share of the growing fantasy sports market. According to a report by the Federation of Indian Fantasy Sports in collaboration with Deloitte, India's fantasy sports market is likely to grow from Rs 34,600 crore in FY21 to an estimated Rs 1,65,000 crore by FY25, registering a CAGR of 38 per cent.
Grover's Third Unicorn has been building a "market-shaking" business that is "bootstrapped" and "without limelight," according to a recent LinkedIn post by Ashneer. The Grovers registered the new company last year, according to data accessed through Tofler. The firm had a total paid-up capital of Rs 10 lakh and an authorised share capital of Rs 20 lakh. Grover had said he was planning to start his own venture without seeking funds from investors.
CrickPe's unique offering of rewarding actual cricketers, cricketing bodies, and team owners with cash rewards sets it apart from competitors. The app's launch ahead of IPL 2023 could give it a head start in attracting fantasy cricket enthusiasts. The forecasted growth in India's fantasy sports market provides an opportunity for CrickPe to establish a strong foothold in the industry.
(With inputs from IANS)