Ashneer Grover launches CrickPe fantasy sports app ahead of IPL
- ByStartupStory | March 24, 2023
Ashneer Grover, founder of Third Unicorn, has launched a new fantasy sports app called CrickPe just in time for the start of the Indian Premier League (IPL) 2023 on March 31.
With the aim of competing against well-established platforms such as Dream11 and Mobile Premier League (MPL), CrickPe is introducing a unique feature that pays cricketers based on their performance in the game.
Grover took to Twitter to express his excitement, claiming that “this new app marks the biggest revolution in cricket since the inception of the IPL. He also mentioned that with CrickPe, not only can fans win big but also the cricketers themselves and the sport of cricket as a whole”.
CrickPe, a new fantasy sports app launched by Ashneer Grover, will charge a 10% platform fee on the total funds received for any public or private contest.
The app enables users who are 18 years and older to create a virtual cricket team and participate in paid contests to win cash prizes.
“Unlike other fantasy cricket apps, CrickPe offers a unique feature where actual cricket players, cricketing bodies, and real team owners also receive cash rewards along with the fantasy game winners for each match” ,this information is available on the app’s description on Google Play Store.
Dream11 currently dominates the online fantasy sports market, but Ashneer Grover, the former Co-founder and Managing Director of BharatPe, and his wife Madhuri Jain Grover have launched CrickPe to capture a share of this rapidly growing industry.
According to a report by the Federation of Indian Fantasy Sports (FIFS) in partnership with Deloitte, the fantasy sports market in India is expected to grow from Rs 34,600 crore in FY21 to approximately Rs 1,65,000 crore by FY25, with a compound annual growth rate (CAGR) of 38%.
With a user base of over 130 million, India currently boasts the world’s largest fantasy sports market.
Ashneer Grover’s recent LinkedIn post revealed that his company Third Unicorn has been working on a “market-shaking” business that is “bootstrapped” and has been operating without much attention.
According to information available on Tofler, the Grovers registered their new company last year with a total paid-up capital of Rs 10 lakh and an authorised share capital of Rs 20 lakh.
Grover had previously mentioned his plan to start a venture without relying on external funding from investors.
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