Dream11’s CEO Harsh Jain Bags in a Check of Rs 4 crore as an Annual Salary Compensation

• Dream11’s CEO, Harsh Jain receives a hike in salary from Rs 1.2 crore to Rs 4 crore per annum.
• Harsh completed his engineering from the University of Pennsylvania and did his MBA from Columbia Business School.
• Until now, some of the highest-paid startup CEOs include Paytm’s Vijay Shekar Sharma and Quikr's Quikr’s Pranay Chulet.

Dream11’s CEO, Harsh Jain receives a hike in salary. The company has revised Jain’s salary from Rs 1.2 crore to Rs 4 crore per annum with effect from April 10, 2020, giving him a whopping raise of 3.3X as compared to his pay last year. 

This comes after Dream11’s parent company Dream Sports raised $225 million in a primary and secondary investment, led by Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital, and Footpath Ventures. 

Harsh completed his engineering from the University of Pennsylvania and did his MBA from Columbia Business School. Harsh, along with Bhavit Sheth, founded Dream11 in 2018. The company has brands such as Dream11, FanCode, DreamX, and DreamSetGo in its portfolio.

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While co-founders in the early years of their startup journey usually don’t withdraw a fat pay cheque for various reasons including lack of funds, they get rewarded with exorbitant salaries after reaching a certain threshold in terms of scale, revenue and valuation.

Even as founders of the majority of the unicorns and growth-stage startups (above Series C round) are well paid, very few get salary and perks like Jain.

Until now, some of the highest-paid startup CEOs include Paytm’s Vijay Shekhar Sharma with an annual salary of around Rs 3 crore and Quikr’s Pranay Chulet with a managerial remuneration of Rs 4.28 crore in FY18.

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Jain along with Bhavit Sheth has been working towards making Dream11 a multi-billion dollar entity. The two are expected to offload their holdings in the recently-concluded round and they may dilute further as Dream11 is expecting more secondary transactions in the coming months. 

The 12-year old startup recently won the IPL title sponsorship rights with a bid of Rs 222 crore, replacing Chinese mobile phone company Vivo for a four-and-a-half month deal. Dream11 has been one of the IPL sponsors for a couple of years now.

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