Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Mobile Premier League .
As per a KPMG report published in 2019, over 300 million people in India play online games. Though online real-money gaming entered India just a decade ago, it has become quite popular among Indians; the primary reason being that players can earn money and rewards while playing games. There are over 100 companies operating in the real-money gaming sector in India, and one of the most popular platforms for real-money gaming is MPL (Mobile Premier League). Founded in 2018, MPL is India's largest mobile e-sports platform. Sai Srinivas Kiran G and Shubham Malhotra founded MPL.
MPL's valuation was $450 million with the infusion of $90 million from SIG, RTP Global, MDI Ventures and Pegasus Tech Ventures in September 2020. Now MPL's valuation has touched $945 million after picking up $95 million in its Series D funding round in February 2021.
This post takes a deep dive into MPL's success story, revenue, funding, founders, competitors, growth, logo, and much more.
MPL Company Highlights
| Startup Name | Mobile Premier League (MPL) |
|---|---|
| Headquarters | Bengaluru |
| Founders | Sai Srinivas Kiran G and Shubham Malhotra |
| Sector | E-Sports and Gaming |
| Founded | 2018 |
| Parent Organization | Galactus Funware Technology Private Limited |
| Valuation | $945 Million (February 2021) |
| Website | www.mpl.live |
MPL - Latest News
About MPL
MPL - Founders/Owners and Team
MPL - Parent Company
MPL - Name, Tagline, and Logo
MPL - Funding and Investors
MPL - Revenue Model
MPL - Competitors
MPL - Awards
MPL - Growth and Revenue
MPL - FAQs
MPL- Latest News
Recently, Mobile Premier League has joined hands with The National Rifle Association of India (NRAI). The Collaboration is to develop a mobile version of an Olympic style shooting game. The non-violent shooting game with International Shooting Sport Federation (ISSF) style trap and skeet formats is to be released on 15 August 2021.
On November 17, 2020, the BCCI (the Board of Control for Cricket in India) formally announced 'MPL sports apparel and accessories' as the official kit sponsor and the merchandise partner of both the national men's and women's sides as well as the U-19 team, replacing Nike.
This strategic partnership is a 3-year agreement, i.e., from November 2020-December 2023.
"India is a market with a billion cricket fans and we see a lot of potential in the under-penetrated merchandise market in India," says Abhishek Madhavan, Sports' senior VP, MPL
About MPL
Mobile Premier League, or MPL, is an online gaming platform based out of Bengaluru, India. The founders are Sai Srinivas Kiran G and Shubham Malhotra. MPL 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 in these online games. With various offers being floated on the platform and 24/7 support from the MPL team, mobile game lovers are inclined towards MPL. Mobile Premier League also provides the option of connecting with friends and offers bonus for referring others to play on MPL. MPL has more than 40 online games which can be accessed via its mobile application that is compatible with both Android and iOS phones.
In March 2019, Indian Cricketer Virat Kohli became MPL's brand ambassador.
Avantika Bhardwaj
MPL - Founders/Owners and Team
MPL was founded by Sai Srinivas Kiran G and Shubham Malhotra in September 2018.
Prior to MPL, Sai and Shubham co-founded CREO (a technology company) in 2014. CREO was acquired by Hike Messenger in 2017 .
MPL CEO Sai Srinivas did his B.Tech from IIT Kanpur in aeronautical engineering. Sai also co-founded Base9, a company that organized and promoted live events across India in 2009. He also worked with the computer games company Zynga and had a short stint with Hike Messenger before founding CREO. Sai again joined Hike for some time after Hike acquired CREO and later ventured into the mobile e-sports sector with MPL.
MPL co-founder Shubham Malhotra did his BE in electronics and instrumentation from the Birla Institute of Technology and Science, Pilani. He 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 - Parent Company
Galactus Funware Technology Private Limited is the parent company of MPL. Galactus Funware Technology Private Limited is a private company incorporated on 22 May 2018. It is classified as a 'subsidiary of foreign company' and is registered at the Registrar of Companies, Bangalore. Galactus Funware Technology offers a wide range of game applications, tournaments, cash rewards, and other related services.
Galactus Funware Technology Private Limited is currently focusing on Mobile Premier League which operates as a digital gaming platform.
MPL - Name, Tagline, and Logo
The name ‘Mobile Premier League’ depicts the finest collection of games that can be accessed through mobile phones. The tagline of MPL was initially ‘Play.Compete.Win’. MPL now uses 'Game Khelo Hero Bano' as its tagline.
MPL - Funding and Investors
MPL's total funding stands at $225.5 million.
Mobile Premier League or MPL has received $8.91 Million from its Singapore-based parent entity - M League Pte Ltd.
In the Series C round held in September 2020, MPL raised $90 million from 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.
In the Series D round held in February 2021, MPL raised a funding of $95 million. The round was led by Composite Capital and Moore Strategic Ventures and funding participation was also seen from Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders circle and Play Ventures. The company’s valuation now stands at $945 million.
| 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 |
| February 2021 | Series D | $95 million | Composite Capital and Moore Strategic Ventures,RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders circle and Play Ventures |
The capital from Series C round was used to expand MPL’s product offering with a focus on social functions such as live streaming and audio/video content features.
The gaming startup plans to use the funds raised in series D to expand its e-sports portfolio and Reinforce its efforts to organize more e-Sports tournaments at national and international levels at large scale. The fresh capital will also be used to speed up the overseas expansion.
Yash Gupta
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 game. When the company holds tournaments, it takes 20% of the total money raised from the participating players as a hosting fee. MPL's gaming apps also make money through advertisements and in-app purchases. MPL's business model has aided in its success.
“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
Vidhi Punamiya
MPL - Awards
MPL was recognized as the ‘Best Fantasy Sports Operator’ in the year 2019 by the India Gaming Awards.
MPL - Growth and Revenue
MPL has more than 4 crore users and 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 posted a revenue of INR 2.87 crores for FY 2019, and its expenditure distended to INR 89.46 crores. It must be noted that the company gained this revenue within a year of its inception in 2018.
As for future plans, MPL is aiming to incorporate more games and increase its user base. The company also has 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 Shubham 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 a mobile e-sports platform based out of 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 a 'subsidiary of foreign company' and is registered at the Registrar of Companies, Bangalore.
How much money does MPL give?
For a simple game on MPL, the average entry fee is around INR 15 and you can win around INR 200 from it. You can also earn money by referring MPL's games to your friends.
Is MPL App legal?
MPL app is an e-sports platform and is legal in India.
MPL is from which country?
Mobile Premier League (also known as MPL) is a 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 : 2021-05-22T11:24:00.000Z