BharatPe founder Ashneer Grover launches fantasy sports app Crickpe

Synopsis Through Crickpe, which is a real-money gaming app, users of over 18 years of age will be able to create a virtual team of cricket players, and enter paid contests to earn cash prizes based on the players’ performance in real games. Users will also be able to participate in contests to win rewards. ETtech BharatPe cofounder Ashneer Grover ’s new venture Third Unicorn Pvt Ltd has launched a fantasy sports app Crickpe – almost a week ahead of Indian Premier League (IPL) tournament commencing March 31 onwards.

With this Grover has marked his entry into a space crowded by fantasy sports startups such as Dream11, Mobile Premier League, My11Circle, and is backed by marquee investors such as Tiger Global, Sequoia Capital, TPG , Falcon Edge, DST Global. In a tweet announcing the launch of the app, Grover posted: “CRICKPE ! Biggest revolution in Cricket since IPL – only fantasy game paying cricketers for performance ! Where you win – cricketer wins – cricket wins !!”. CRICKPE ! Biggest revolution in Cricket since IPL – only fantasy game paying cricketers for performance ! Where… https://t.

co/zLUWMvmCqN — Ashneer Grover (@Ashneer_Grover) 1679584568000 Through Crickpe, which is a real-money gaming app, users of over 18 years of age will be able to create a virtual team of cricket players, and enter paid contests to earn cash prizes based on the players’ performance in real games. Users will also be able to participate in contests to win rewards. Crickpe will charge a 10% platform fee of the total funds received for any public or private contest.

However, it will also let users enter free contests. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories According to information provided on Crickpe’s page on Google Play Store, the game will reward a percentage of every game pot to real cricketers, based on their actual performance in the match, in proportion to their fantasy points earned. In addition to this, users will be able to send rewards of up to Rs 1 lakh in a financial year to a cricketer – but it would be up to the cricketer to accept or reject the reward.

If the cricketer accepts the reward, it will be subject to applicable taxes and processing fee of 10%. As a promotional offer, Crickpe said on its website that it will not be collecting any processing fee till June. “It is hereby clarified that we are not acting as agents of cricketers and are not under binding contract to collect any money on their behalf.

Crickpe shall solely be acting as your agent in offering this cash reward,” according to the startup’s terms and conditions. Grover had unveiled his new startup Third Unicorn in January when he had said: “We at Third Unicorn have been quietly and peacefully building a market-shaking business. Bootstrapped.

Without limelight. And we are doing things differently. Very differently”.

The team at Third Unicorn will not be more than 50 members and the idea will be to “generate $1 billion in revenue”, he had said. Grover also said his new company will not have a regular board, referring to his soured relationship with investors and board members following the high-pitched controversy at his former firm BharatPe. He is also currently tied up in a litany of cases filed against him and his family members in the Delhi High Court.

While BharatPe has sued Grover, his wife and former head of controls Madhuri Jain Grover, and their relatives seeking Rs 88 crore in damages for alleged misappropriation of funds and reputational harm, other BharatPe cofounders Bhavik Koladiya and Shashvat Nakrani have also filed cases against Grover in the Delhi High Court. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Thursday, 23 Mar, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies ET Markets More Fed Hikes Rates by 25bps, Signals One More on Cards The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two US banks.

FM Calls State-owned Lenders’ Meet Amid Global Banking Crisis Finance minister Nirmala Sitharaman has called a special meeting of state-run lenders later this week to seek their views on heightened global concerns over the banking system’s vulnerability due to monetary tightening. With Great Ecommerce Comes Great Responsibility for Online Platforms The consumer affairs ministry is working on tightening ecommerce rules to make online retail platforms liable for fraud committed by sellers and attaching “fallback liability” to their role as intermediaries, said a senior official. Read More News on Ashneer Grover bharatpe grover tpg shashvat nakrani premier Stay on top of technology and startup news that matters.

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