Fantasy cricket is a game played online where players can build a team of virtual cricketers based on real-life cricket matches using strategic gameplay.
CrickPe is an app designed for fantasy sports enthusiasts, which enables them to form digital teams consisting of real-world professional cricketers and engage in competition against other users who have also created their virtual teams.
Ashneer Grover, the ex-Managing Director of BharatPe, recently launched his third project, and according to the author of ‘Dogalapan’, the CrickPe application has garnered nearly one million downloads in less than 20 days.
Grover took to a social media platform to share that CrickPe has accumulated 10 lakh downloads. For those unfamiliar with the application, it is a fantasy sports app that enables users to build digital teams of actual professional cricketers and participate in competitions against other users’ virtual teams. Additionally, users have the opportunity to earn rewards based on their performance.
In 2022, Grover, together with his wife Madhuri Jain Grover and Aseem Ghavri, began developing CrickPe, and they now serve as the company’s co-founders. Other competitors in the market, including Dream11, Mobile Premier League (MPL), and My11Circle by Games24x7, will pose a challenge to the app. However, CrickPe distinguishes itself from these other apps by focusing solely on cricket and not offering games like rummy or others.
The application covers not only the Indian Premier League (IPL) but also other cricket tournaments, such as the 2023 Asia Cup and the 2023 ICC World Cup. Currently, the company has no plans to cover events outside of cricket.
Interesting Facts About Ashneer Grover’s CrickPe
CrickPe’s fantasy app is distinct from other fantasy cricket apps due to its distinctive feature of awarding cash prizes not only to the winners of the game but also to the actual players, cricket organizations, and team owners.
The purpose of this feature is to create a stronger bond between fantasy cricket fans and actual cricket players, organizations, and owners, which would promote a sense of community and collaboration. Additionally, it provides an extra layer of thrill and competition to the app, making it more appealing to a wider range of users and improving the overall gaming experience.
In a LinkedIn post announcing the app, Grover stated that “Cricketers get paid for performance – not ads. 10 percent of the pot will be divided based on the number of points earned by each of the 22 players in every match.” This implies that CrickPe winners will receive 80 percent of the collected funds, while CrickPe will charge a 10 percent platform fee, and cricketers will receive the remaining 10 percent of the pot based on their performance.
According to its description on the Google Play Store, CrickPe is the only fantasy cricket app globally that provides cash prizes to the actual playing cricketers, cricket organizations, and team owners, in addition to the fantasy game-winners, for every match. Users also have the opportunity to show appreciation (rewards) to all their preferred cricketers from different teams and formats. Moreover, CrickPe is exclusively dedicated to cricket, which is India’s true sports passion, to promote meritocracy in cricket.
Fantasy cricket is an internet-based strategy game where users construct a virtual team of cricket players that aligns with actual cricket matches. Points are earned based on the player’s performance in real matches. After a lengthy conflict between Grover and the BharatPe board, Grover and his wife Madhuri Jain established their new company, Third Unicorn Private Ltd, on July 6, 2022.
According to reports, Grover has secured $4 million in seed funding for his latest enterprise and has pledged to offer Mercedes Benz cars to employees who work for the startup for five years. Grover and his spouse are presently embroiled in various legal cases filed by BharatPe and its co-founders. The fintech company has requested ₹88.6 crore in compensation from Grover and his family for an alleged monetary loss of ₹83 crore that the company suffered due to the mismanagement of funds, and an additional ₹5 crore for the damage and harm caused to the brand, as well as any applicable taxes.
Ashneer Grover Raises Seed Round Funding
According to an insider, Ashneer Grover, the former CEO of BharatPe, has secured around $4 million in seed funding for his new venture, Third Unicorn Pvt Ltd. Over two dozen angel investors, including Anmol Singh Jaggi, Anirudh Kedia, and Vishal Kedia, participated in the funding round, which was spearheaded by ZNL Growth Fund.
Third Unicorn is launching a fantasy cricket gaming platform named “Crickpe”. Although the website appears to be under development, it shows that Crickpe is being powered by Third Unicorn.
According to recent news, founder Ashneer Grover shared a post on LinkedIn in which he stated that Third Unicorn has created a business that is disrupting the market uniquely and unconventionally. In a slideshow, he offered a glimpse of his new venture and mentioned that it will start with a small team of 50 members. In addition, Grover has committed to offering Mercedes cars to employees who stay with Third Unicorn for five years. He has expressed the view that “gratuity is for humiliation.”
Grover also mentioned that his company is seeking investments only from Indian investors and urged venture capitalists to refrain from investing
In 2021, on his 40th birthday, Grover revealed on Twitter that he plans to create another “unicorn” and re-enter the business world. He tweeted, “Time to disrupt another sector. It’s time for the Third Unicorn.”
Grover has been involved with two other unicorns, BharatPe and Grofers.
In July of last year, Grover and his wife Madhuri Jain Grover established a new company named Third Unicorn Private Limited, which has a total paid-up capital of ₹10 lakh and an authorized share capital of ₹20 -SheCslahks.
Grover’s association with the investment world started right after his post-graduation, and he has an impressive educational background as an alumnus of IIT Delhi and IIM Ahmedabad. He worked for seven years in Kotak Mahindra’s investment banking division before joining American Express in 2013, where he led startup investments for the card network in India.
After that, he worked as CFO for Grofers, an online grocery startup founded by his IIT-Delhi classmate Albinder Dhindsa. However, he left the startup in 2017, feeling disappointed as he did not receive the promised ESOPs. After that, he worked for PC Jeweller Ltd for nearly a year before joining BharatPe in June 2018.
In January of the previous year, Grover was placed on leave after an audio recording surfaced online in which he was heard being confrontational with a Kotak Mahindra Bank employee. Following this, Grover and his wife were accused of financial improprieties, which ultimately resulted in their ousting from the company in March 2022.