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Dream Sports CTO Amit Sharma steps down to launch AI startup

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Date
Company
Dream Sports
What it does
Sports entertainment and fantasy platform
Kind
People
Founded
2008
Sector
Consumer Internet & Media

What they do

Dream Sports runs a sports entertainment platform with fantasy sports and stockbroking

What happened

Amit Sharma leaves after ten years to start his own artificial intelligence company

Why it matters

The company discontinued Dream Play and Dream Money, while its valuation was $8 billion in 2021

The details

  • Dream Sports CTO Amit Sharma is stepping down from his role after approximately 10 years.
  • He plans to launch his own AI startup immediately following his departure from the company.
  • Sharma joined Dream Sports in 2016 and earlier spent about 12 years in the US at Netflix and Yahoo in engineering leadership.
  • The engineering team grew from about 20 members in 2016 to over 600 employees today.
  • Sharma had recently become the Founder and CEO of the Dream Sports AI vertical during a reorganization.
  • CMO Vikrant Mudaliar also exited shortly before Sharma's departure after an 8-year tenure.
  • Dream Sports discontinued its Dream Play analytics app and the Dream Money fintech platform last year.
  • Dream Money will stop functioning on 30 July 2026 after offering mutual funds, digital gold, fixed deposits, and loans.

The bigger picture

  • The exit occurs amid regulatory pressure including a 28% GST upheld by the Supreme Court.
  • New gaming laws prohibit online money games which affects the broader industry landscape.
  • Dream Street stockbroking remains operational using AI insights and SEBI-registered analysts for trading services.

About the business

  • Dream Sports was founded by Harsh Jain and Bhavit Sheth in 2008.
  • It operates a sports entertainment platform with creator-led watch-alongs and fan interaction.
  • The core product includes free-to-play fantasy sports for real-time engagement with fans.
  • Dream Street provides stockbroking services using data-led insights and registered financial analysts.
  • The company discontinued specific verticals like Dream Play and Dream Money to focus efforts.
  • Dream Sports holds a valuation of $8 billion established in 2021.
  • In 2021 it raised $840 million from investors like Tiger Global and RedBird Capital.

What happens next

  • Amit Sharma will launch his own artificial intelligence startup.

Investors

  • Falcon Edge (investor) — Invested $840 million in 2021.
  • Tiger Global (investor) — Invested $840 million in 2021.
  • DST Global (investor) — Invested $840 million in 2021.
  • D1 Capital (investor) — Invested $840 million in 2021.
  • RedBird Capital (investor) — Invested $840 million in 2021.
  • TPG (investor) — Invested $840 million in 2021.

Founders

  • Harsh Jain, Co-founder
  • Bhavit Sheth, Co-founder

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