As per a KPMG report published in 2019, over 300 million people in India play online games. Online real-money gaming that entered India around a decade ago, is also gaining much popularity, the reason being that players not only enjoy gaming, but can also earn money and rewards based on their gaming skills. There are over 100 companies operating in the real-money gaming sector in India, and one among the top popular platforms for real money gaming is MPL (Mobile Premier League). Founded in 2018, MPL is India's largest Mobile esports platform. Let's have a look into the startup journey of MPL. Get an insight on Its Revenue, Funding, Founders, Competitors, Growth, Parent Company, Logo etc.,
With recent funding on September 2020, with infusion of $90 Million from SIG, RTP Global, MDI Ventures and Pegasus Tech Ventures, MPL's valuation has raised to $450 Million.
Company Highlights
| Startup Name | Mobile Premier League (MPL) |
|---|---|
| Headquarter | Bengaluru |
| Founder | Sai Srinivas Kiran G & Shubham Malhotra |
| Sector | E-Sports and Gaming |
| Founded | 2018 |
| Parent Organization | Galactus Funware Technology Private Limited |
| Website | www.mpl.live |
About MPL
MPL - Founders & Team
MPL - Parent Company
MPL - Name, Tagline & Logo
MPL - Funding & Investors
MPL - Revenue Model
MPL - Competitors
MPL - Awards
MPL - Growth & Revenue
MPL - FAQs
About MPL
Mobile Premier League is an online gaming platform based in Bengaluru, India. It was founded by Sai Srinivas Kiran G and Shubham Malhotra in 2018. It provides an abundant pool of games such as Chess, Quiz, Fantasy sports, Free Fire, Rummy, 8 ball 3D Pool, Carrom, Ludo, and more. The company also renders real cash rewards to those who win these online games. They have more than 40 online games which can be accessed via the mobile application of MPL. With various offers being floated on the platform, and 24/7 support from the MPL team, it is surely a great platform to be for the mobile game lovers. MPL also provides the option of connecting with friends and offers bonus for referring another friend to play in MPL. The mobile app is compatible both in android and iOS.
In March 2019, MPL signed up Indian Cricketer Virat Kohli as its brand ambassador.
StartupTalky
MPL - Founders & Team
MPL was founded by Sai Srinivas Kiran G and Shubham Malhotra in September 2018. Prior to MPL, Sai and Shubham also co-founded CREO (a technology company) in 2014, which got acquired by Hike Messesnger in 2017 .
MPL CEO Shubham Malhotra did his BE in Electronics and Instrumentation from Birla Institute of Technology and Science, Pilani. Shubham worked for Capillary Technologies, a technology service provider, prior to beginning his entrepreneurial journey with CREO. He was also associated with Hike Messenger from January 2017 to April 2018, before founding MPL.
MPL co-founder Sai Srinivas did his B.Tech from IIT Kanpur, in Aeronautical Engineering. In 2009, Sai also co-founded Base9, a compnay that held live events across the country and as well as promoted them. Besides he also worked with computer games company Zynga, and had a short stint with hike messenger before founding CREO. He again got associated with Hike for some time after Hike acquired CREO, and later ventured out to the mobile esports sector with MPL.
MPL - Parent Company
Galactus Funware Technology Private Limited is a Private company incorporated on 22 May 2018. It is classified as Subsidiary of Foreign Company and is registered at Registrar of Companies, Bangalore. The Company offers wide range of game applications, tournaments, cash rewards, and other related services. Mobile Premier League serves customers worldwide.
Galactus Funware Technology Private Limited is doing business as Mobile Premier League. It operates as a digital gaming platform.
MPL - Name, Tagline & Logo
The name ‘Mobile Premier League’ depicts the finest collection of different games that can be accessed through mobile. The Tagline of the company was initially ‘Play.Compete.Win’. Another tagline the company uses is 'Game Khelo Hero Bano'
MPL - Funding & Investors
MPL's total funding stands at $180.5 million.
Mobile Premier League or MPL has received Rs 64.93 crore from its Singapore-based parent entity — M League Pte Ltd.
In recent Series C round on September 2020, MPL raised $90 Million led by SIG, RTP Global, MDI Ventures and Pegasus Tech Ventures. MPL's existing investors Sequoia Capital India, Go-Ventures, and Base Partners also participated in the round.
| Date | Stage | Amount | Lead Investors |
|---|---|---|---|
| November 2018 | Seed Round | $5 million | Sequoia Capital |
| April 2019 | Series A | $35.5 million | Sequoia Capital India, BEENEXT, RTP Global,Venture Highway, Times Internet |
| September 2020 | Series B | $50 - $60 Million | SIG |
| September 2020 | Series C | $90 million | SIG, RTP Global, MDI Ventures, Pegasus Tech Ventures |
The fresh capital of Series C Round, would be used to expand MPL’s product offering, with a focus on social functions such as live streaming, audio and video content features.
StartupTalky
MPL - Revenue Model
There are several ways in which MPL makes money. It collects entry fee from the players whenever they want to participate in any games. Again, when the company holds tournaments, it takes 20% of the total money raised from the participating players as a hosting fee. Besides, gaming apps also makes money through advertisements and in -app purchases.
“We already have multiple different forms of monetization that we are looking at, and are working for us. However, we are looking at one of these becoming a long-term source of monetization, while keeping the high level of engagement” says, Sai Srinivas Kiran, Co-founder of MPL, commenting on the monetization plans of the company.
MPL - Competitors
GamingMonk, Dream11, Cricnwin, LXG, NODWIN Gaming, FanFight are some of the top competitors of MPL. The company sustains to be in its best position with more games and cash rewards.
MPL - Awards
MPL has been awarded as the ‘Best Fantasy Sports Operator’ in the year 2019 by India Gaming Awards.
MPL - Growth & Revenue
MPL has more than 4 crore users with 40+ games. The company is a member of AIGF (All India Gaming Federation), FICCI, IAMAI (Internet and Mobile Association of India), and TRF (The Rummy Federation). MPL has posted a revenue of Rs.2.87 crore for FY 2019, and its expenditure distended to Rs.89.46 Crore. It must be noted that the company gained this revenue only within a year of its inception in 2018.
As for its future plans, MPL is aiming to incorporate more games with an increased number of users in the coming days. The company has also plans to expand its business and tech-based partnerships.
MPL recently signed up as the ‘official sponsor’ for Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB).
MPL - FAQs
Who is the Owner/Founder of MPL?
Galactus Funware Technology Pvt Ltd. is the Parent Company of MPL. MPL was co-founded by Sai Srinivas Kiran and Shubh Malhotra
Who is the CEO of MPL?
Sai Srinivas Kiran G is the Co-founder and CEO of MPL
MPL is which country app?
Mobile Premier League (also known as MPL) is the mobile e-Sports platform based in India. It is headquartered in Bangalore, Karnataka.
Who is MPL's Parent Company?
Galactus Funware Technology Pvt. Ltd. , is a Private Company incorporated on 22 May 2018. It is classified as Subsidiary of Foreign Company and is registered at Registrar of Companies, Bangalore.
How much money does MPL give?
For a simple game on MPL, the average entry fee is around Rs.15 and you can win around 200 rupees from it. By referring it to even your closest of friend circles, you can earn money and use that money to win your own 200 rupees.
Is MPL App legal?
MPL App is an e-sports platform and is Legal in India
Is MPL only for India?
Mobile Premier League (also known as MPL) is the mobile e-Sports platform based in India.
Is MPL KYC Safe?
MPL is certified by Master Card and Visa as a secure platform.
Author: Himaya Presthitha
Source : https://startuptalky.com/mpl-success-story/
Date : 2020-09-22T08:00:00.000Z