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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 the Indians the primary reason being that the 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 had touched $945 million after picking up $95 million in its Series D funding round in February 2021. The company had received another funding round, Series E, of $150 mn on September 15, 2021, led by Legatum and recorded a pre-funding valuation of $2.3 billion. MPL is currently valued at $2.45 billion and is hailed as the 26th unicorn startup of 2021, and the second Indian unicorn online gaming startup to cross the 1 billion dollar mark, as of October 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 | $2.45 bn (October 2021) |
| Revenue | $2.44 mn (Rs 18.31 crore in FY20) |
| Funding | $425.5 million (December 2021) |
| Website | www.mpl.live |
MPL - About
MPL - Industry
MPL - Founders/Owners and Team
MPL - Name, Tagline, and Logo
MPL - Funding and Investors
MPL - Business and Revenue Model
MPL - Competitors
MPL - Awards and Recognitions
MPL - Partnerships
MPL - Growth and Revenue
MPL - Acquisitions
MPL - Future Plans
MPL - About
Mobile Premier League, or MPL, is an online gaming platform based out of Bengaluru, India. Sai Srinivas Kiran G and Shubham Malhotra are the founders of the company. 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. The Indian e-gaming platform has more than 70 online games, which can be accessed via its mobile application that is compatible with both Android and iOS phones.
Founded in September 2018, MPL has seen a rapid growth and is currently serving over 75 mn users in India.
Avantika Bhardwaj
MPL - Industry
The market of online fantasy games in India is expanding tremendously – over 100 million users in India joined numerous fantasy gaming platforms in 2020 alone. These online fantasy gaming platforms like MPL have been currently engaging 14% of all smartphone users in the country. The revenues from online gaming in India jumped 3X in a year and were last recorded at $340.5 million in 2020. Needless to say, MPL also has a huge opportunity in this market in the upcoming years in India.
Galactus Funware Technology Private Limited is the parent company of MPL. Galactus Funware Technology Private Limited is a private company incorporated on May, 22 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 is currently operating as a digital gaming platform.
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 .
Sai Srinivas Kiran G
MPL CEO Sai Srinivas did his B.Tech from IIT Kanpur in Aeronautical Engineering. Soon after completing his graduation, he started working at a gaming firm, Zynga, where he was an Associate Product Manager. He then joined BSB - Bharti Softbank as the Director of Product, leaving which, he co-founded CREO Tech, where he was also appointed as the CEO. However, CREO was soon acquired by Hike Messenger, where he later served as the Head of Total. Srinivas then decided to venture into the mobile e-sports sector, when he co-founded MPL. Sai also co-founded Base9, a company that organized and promoted live events across India in 2009.
Shubham Malhotra
MPL co-founder Shubham Malhotra did his BE in Electronics and Instrumentation from the Birla Institute of Technology and Science(BITS), Pilani. He initially worked as the Co-founder and CTO of Capillary Technologies, a technology service provider, before moving on to co-found CREO, where he again served as the Co-founder and CTO. He continued to stay with Hike Messenger as the Head of Engineering at Total by Hike even after it acquired CREO. Shubham then decided to found MPL with his CREO co-founder, Sai Srinivas.
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 $425.5 million. The last round that the company raised was the Series E funding round worth $150 mn, dated September 15, 2021, and was led by Legatum.
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 round before that was the Series C round held in September 21, 2020, where 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.
The company’s valuation now stands at $2.45 billion, as of October, 2021.
| Date | Stage | Amount | Lead Investors |
|---|---|---|---|
| September 15, 2021 | Series E | $150 million | Legatum |
| February 4, 2021 | Series D | $95 million | Composite Capital and Moore Strategic Ventures,RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders circle and Play Ventures |
| September 21, 2020 | Series C | $90 million | SIG, RTP Global, MDI Ventures, Pegasus Tech Ventures |
| September 7, 2020 | Series B | $50 million | SIG |
| April 24, 2019 | Series A | $35.5 million | Sequoia Capital India, BEENEXT, RTP Global,Venture Highway, Times Internet |
| November 8, 2018 | Seed Round | $5 million | Sequoia Capital |
Yash Gupta
MPL - Business and 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 receives 20% of the total money raised from the participating players as 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
- Dream11
- Cricnwin
- LXG
- NODWIN Gaming
- FanFight
Vidhi Punamiya
MPL - Awards and Recognitions
Some of the major awards and recognitions received by MPL to date are:
- MPL was recognized as the ‘Best Fantasy Sports Operator’ in the year 2019 by the India Gaming Awards.
- The company replaced Nike to become 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, as announced by the BCCI (the Board of Control for Cricket in India)
- MPL won the India CSR Leadership Award in 2021
- Mobile Premier League is known as India's second gaming unicorn
- With over 70 games, Mobile Premier League (MPL) is currently India's largest eSports and mobile gaming platform
MPL - Partnerships
Here goes a list of the prominent MPL partnerships:
- MPL partnered with the hyper-casual developers and publishers, Voodoo to launch Helix Jump and Colour Road
- The company partnered with Prime Focus Technologies for content creation
- MPL has already partnered with BCCI as the kit sponsor and official merchandise partner
- MPL has partnered with Esports Federation of India (ESFI) as the sponsors of the Indian team
- MPL has collaborated with established as well as independent game developers from across India
MPL - Growth and Revenue
MPL boasts of having more than 70 million users in India alone and 70+ 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 an annual revenue of INR 18.31 Cr (FY20), which was reported to be around INR 4.27 Cr in FY19. Furthermore, MPL posted a revenue of $1.5- $2 billion annual revenue run rate.
Some other growth highlights of MPL are as follows:
- MPL signed up as the ‘official sponsor’ for Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) on August 26, 2020.
- In March 2019, Indian Cricketer Virat Kohli became MPL's brand ambassador.
- MPL is currently trusted by 9 Crore+ Indians
Karnataka bans MPL and other Online Fantasy Games
Mobile Premier League, Paytm First Games, and RummyCircle-like mobile gaming platforms that deal with real money had to suspend their services in Karnataka following the enactment of the state legislation that prohibited money wagering and betting in online games on October 5, 2021.
Apps like MPL and others were previously ruled as "games of skill" by one too many courts of India. However, this law, which is declared as a part of an amendment of the Karnataka Police Act, was enacted to ban all forms of online gambling and betting platforms. The offenders of the law, as announced on Tuesday, will henceforth be subjected to a maximum imprisonment of 3 years or a fine of up to Rs 1 lakh.
Soon after the law came into effect, MPL's services were suspended in Karnataka on Wednesday, where the users of MPL are now greeted with the message, “Sorry! The law in your state does not permit you to play Fantasy sports”, if they open the app. Though RummyCircle and Nazara’s HalaPlay had also updated their respective messages to inform their users regarding the ban of their services in the state, Dream11 still ran smoothly on October 6th, and it is still unclear whether they too have suspended their services.
MPL - Acquisitions
MPL has acquired 3 companies to date. GameDuell, the German Game Studio, was the last company acquired by MPL on February 28, 2022. This acquisition will help MPL, one of the most renowned esports and skill gaming platforms, to extend its operations across international markets. MPL is currently present in Europe, Asia and North America. Here the partnership with GameDuell, the Berlin-based game studio that is the global pioneer in community card and board games, will help MPL get an extensive experience in developing multiplayer games like action arcade, board and puzzle games.
Mobile Premier League previously acquired GamingMonk and Crevise Technologies.
| Companies Acquired | Date of Acquistion | Deal Value |
|---|---|---|
| GameDuell | February 28, 2022 | - |
| GamingMonk | April 20, 2021 | - |
| Crevise Technologies | May 8, 2019 | - |
MPL - Future Plans
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. Furthermore, MPL is also looking to hire 1,500 more people to its organization by mid-2023, as per the reports dated November 25, 2021. The company is also looking forward to setting up a 500-seater office in Hyderabad and has already signed an MOU with Telangana government. Along with this, MPL would also establish another global office in New York or Seattle.
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's 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 has always been legal in India. However, according to the recent enactment of the state legislation, which banned money wagering and betting, online fantasy gaming apps like MPL, Paytm First Games, RummyCircle, and more was illegalized in the Indian state of Karnataka, as reported on October 5, 2021.
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.
Source :- https://startuptalky.com/ Author :- Himaya Presthitha Date :-March 02, 2022 at 12:54PM