Success Story of MPL – What is MPL, Startup Story, Company Profile, Founding Team, and Many More


Success Story of MPL – What is MPL, Startup Story, Company Profile, Founding Team, and Many More
Success Story of MPL – What is MPL, Startup Story, Company Profile, Founding Team, and Many More
Spread the love

Introduction:

The largest eSports and mobile gaming platform in India, Mobile Premier League (MPL), provides access to a diverse collection of over 60 games, spanning various genres such as fantasy sports, card games, arcade games, puzzles, and action games, among others. MPL is renowned for its user base of over 9 crore individuals and offers free downloads of these games. On this platform, users have the opportunity to play games like Rummy, Chess, Fantasy Cricket, Fruit Chop, 8 Ball Pool, Carrom, and more, with the possibility of winning real money.

Free game downloads are available, and you may play online against real people to win real money. Gameplay is made more enjoyable with MPL’s ultimate gaming experience and guarantee of endless pleasure. Love playing cards or fantasy sports games? Every type of game enthusiast can find a game they enjoy at MPL. MPL offers a variety of activities for all ages, including baseball, archery, basketball, football, cricket, cricket, basketball, basic card games, and brainteasers. Choose a game from adventure, action, sports, and a variety of other genres to play for real money.

MPL – Company Highlights:

Company NameMPL
HeadquarterBengaluru, India
IndustryE-Sports and Gaming
Founded2018
FounderSai Srinivas Kiran G and Shubham Malhotra
Websitehttps://www.mpl.live/

MPL – About:

MPL is a widely acclaimed gaming platform in India, with a user base of over 90 million registered players. The platform provides a diverse selection of games, encompassing fantasy variations of basketball, football, and cricket, card games like rummy and poker, and beloved arcade titles such as Fruit Ninja and Angry Birds. MPL users can engage in numerous tournaments and competitions, offering them the chance to secure cash prizes. Moreover, MPL features a loyalty program allowing customers to accumulate points by playing games, which can subsequently be exchanged for gifts and rewards.

The parent organization of MPL is Galactus Funware Technology Private Limited. Founded on May 22, 2018, Galactus Funware Technology Private Limited is a private corporation. It is listed with the Bangalore Registrar of Companies as a “subsidiary of an international corporation.” Numerous game applications, competitions, cash prizes, and other services are available from Galactus Funware Technology.

Over 100 million Indians will have signed up for various fantasy gaming platforms by the year 2020, which shows how rapidly the market for online fantasy games in India is growing. In the country, 14% of smartphone users are currently active on online fantasy gaming platforms like MPL. India’s online gaming industry generated $340.5 million in sales in 2020, a 3X increase from the previous year. In the approaching years in India, MPL will undoubtedly have a significant chance in this industry.

MPL – Industry:

Users of the app can engage in cash tournaments and contests for a variety of games to win daily cash prizes. Choose your favorite game, then utilize your abilities to outplay your opponents to win. Users of the platform can also download free games to use as practice matches against actual opponents. Before accepting the challenge to participate in the real money games, try out a few free practice games.

Engage in thrilling money-earning games on MPL and strive to achieve high scores, propelling yourself to the summit of the Leaderboards. Showcase your gaming skills, challenge both friends and unfamiliar opponents and determine who emerges victorious. Furthermore, each referral you make entitles you to a bonus. Users appreciate the MPL app for its cutting-edge gaming experience and rest assured, it is entirely secure and legal for playing real-money games.

Mobile Premier League (MPL) offers an impressive array of over 70 games accessible through its iOS and Android applications, establishing it as India’s premier eSports and mobile gaming platform. Boasting a user base exceeding 90 million worldwide, MPL has also extended its reach to Indonesia and the United States, undergoing rapid expansion. MPL has offices in Bengaluru, Pune, Singapore, and Jakarta in addition to its main location. With a current valuation of $2.3 billion, Mobile Premier League is backed by illustrious investors including Sequoia Capital, SIG, MDI, Moore Strategic Ventures, Composite Capital, Times Internet, Go-Ventures, Base Partners, etc.

See also  Everything you need to know about playing Bingo online

MPL – Founder and Team:

Shubham Malhotra and Sai Srinivas Kiran G established MPL. In the IT sector, Kiran has over ten years of experience as a serial entrepreneur. Former investment banker Malhotra has more than 5 years of expertise in the financial services sector.

Along with talents in technology and marketing, MPL’s staff includes seasoned members of the gaming sector. Some of the top venture capital companies in the world, including Sequoia Capital, Tencent, and Tiger Global Management, have investors on their boards of directors for the company.

Shubham Malhotra and Sai Srinivas Kiran G
Shubham Malhotra and Sai Srinivas Kiran G

MPL – Startup Story:

Sai Srinivas Kiran and Shubham Malhotra established MPL in 2018, starting with puzzle and casual games and later adding fantasy sports. The business uses its app platform to link users with game publishers. The business acquired the esports community site GamingMonk in 2021.

The company presently has 60 games available in genres such as board games, casual games, sports games, puzzle games, and fantasy sports. The company has adjusted its services according to the regulations in users’ regions, as certain games may be restricted in specific countries. With offices in Bengaluru, Pune, Singapore, and New York, the company employs over 800 individuals. They proudly state that their platform has amassed more than 90 million registered users.

MPL – Mission and Vision:

The goal of MPL is to establish itself as a one-stop platform for players and game creators.

MPL – Name, Tagline, and Logo:

The phrase “Mobile Premier League” refers to the best selection of games that may be viewed on mobile devices.

MPL’s original slogan was

“Play.Compete.Win.”

The tagline for MPL is currently

“Game Khelo Hero Bano.”

Mobile Premier League(MPL)

MPL – Business Model:

The user-provided app is the center of MPL’s business strategy. MPL generates revenue in a number of ways. It charges participants an admission fee each time they want to take part in a game. The business receives a hosting fee of 20% of the total funds generated by the competitors when it hosts tournaments. Ads and in-app purchases are additional revenue sources for MPL’s gaming apps. The success of MPL has been boosted by its business model.

MPL – Revenue Model:

MPL boasts of having more than 60 games and over 90 million users in India alone. The business belongs to the AIGF (All India Gaming Federation), TRF, FICCI, and IAMAI (Internet and Mobile Association of India) (The Rummy Federation). The following are some further MPL growth highlights:

  • On August 26, 2020, MPL agreed to serve as the teams’ “official sponsor” for both Royal Challengers Bangalore (RCB) and Kolkata Knight Riders (KKR).
  • Virat Kohli, an Indian cricketer, was named the MPL’s brand ambassador in March 2019.
  • Over 9 billion Indians currently trust MPL.

Compared to the reported Rs 2.87 crore in FY19, MPL claimed a yearly income of Rs 22.4 crore in FY20. MPL’s total revenue was recorded at Rs 499.5 crore, contributing to the startup’s 2130 percent revenue growth from the Rs 22.4 crore it brought in during the prior fiscal year. Additionally, during FY20, MPL reported an annual revenue run rate of $1.5 to $2 billion, which amply demonstrates the company’s rapid expansion.

In comparison to the prior fiscal year, when MPL’s sales were about Rs 17.6 crore, they increased by a factor of 21 in FY21. MPL’s sales-related revenue for the fiscal year (FY) 21 totaled Rs 378.5 crore. In FY20, MPL’s other income was Rs 4.8 crore; in FY21, it increased to Rs 120.9 crore.

MPL Revenue VerticalsFY21FY20
Revenue from SalesINR 378.5 crINR 17.6 cr
Other IncomeINR 120.9 crINR 4.8 cr

In line with its rising revenues, MPL’s spending also climbed. The MPL’s yearly expenses increased by over 98 percent to Rs 628.9 cr in FY21 from Rs 317.4 cr in FY20. While the startup incurred costs totaling Rs. 89.46 crore in FY19. Rent, advertising and promotion costs, IT costs, and other costs were included in MPL’s other expenses, which totaled Rs 506.7 cr in FY21. This segment was primarily funded by promotional costs. Compared to the previous fiscal year, MPL’s employee benefits costs increased to Rs 117.5 crore in FY21 from Rs 75.8 crore. MPL’s financial position improved dramatically in FY22, with its EBITDA margins rising from -94.73 percent to -216.98 percent. Amounts MPL lost

See also  How Can Businesses Take Advantages Through LinkedIn Data Mining Services From Experts?
MPL FinancialsFY22FY21
Revenue$65.6 million$50.9 million
Expenses$215 million$100 million
Profit/LossLoss of $148 millionLoss of $49 million
EBITDA Margin-216.98%-94.73%

MPL – Products and Services:

  • Basketball, football, and fantasy cricket leagues are available through MPL. Users are able to form their own teams and play against one another for cash rewards.
  • Blackjack, poker, and rummy are just a few of the card games that MPL offers. Players can compete against each other or a machine.
  • Games for Arcades: MPL has a selection of arcade games, including Fruit Ninja, Angry Birds, and Temple Run. Users can participate in competitions for cash rewards or just for pleasure by playing these games.
  • Chess, Ludo, and Carrom are just a few of the additional games that MPL provides.
  • MPL Pro: MPL Pro is a paid service that grants subscribers unique access to games, competitions, and tournaments.
  • Users can deposit and withdraw funds from their MPL accounts via the MPL Wallet, a digital wallet.
  • MPL Rewards: MPL Rewards is a loyalty program where users can accumulate points by playing games and then use those points to get rewards.

MPL – Funding and Investors:

Sequoia Capital, Go Ventures, RTP Global, Go Ventures, Moore Strategic Ventures, Play Ventures, Base Partners, Telstra Ventures, Founders Circle Capital, and Times Internet are only a few of the financial backers of MPL. When it received money in its Series E round in 2021 from Legatum Capital, RTP Global, Go-Ventures, Play Ventures, Base Partners, Founders Circle Capital, and existing investors at a valuation of $2.3 billion, it became the second gaming unicorn in India.

DateStageAmountLead Investors
September 15, 2021Series E$150 millionLegatum
February 4, 2021Series D$95 millionComposite Capital and Moore Strategic Ventures, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle, and Play Ventures
September 21, 2020Series C$90 millionComposite Capital and Moore Strategic Ventures, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders circle, and Play Ventures
April 24, 2019Series A$35.5 millionSequoia Capital India, BEENEXT, RTP Global, Venture Highway, Times Internet
November 8, 2018Seed Round$5 millionSequoia Capital

MPL – Employees:

On May 30, 2022, MPL let go of about 100 workers. In this way, the business lost 10% of its personnel. According to claims from sources who requested anonymity, there may be more persons who are affected. However, it is also known that the employees who will be laid off will be given a full severance package in addition to additional benefits.

Mobile Premier League Office Photos
MPL Employees

Additionally, the employees who owned ESOPs in the company will have the choice to keep such ESOPs for the ensuing ten years. Many Indian late-stage businesses in many industries have already had to lay off their staff, including Meesho, CarDekho, Ola, Unacademy, mFine, Vedantu, etc. However, the difficulties that Indian entrepreneurs are facing are brought to light when genuine gaming startups like MPL also have to do so. On the same day, FrontRow fired 30% of its employees.

MPL – Challenges Faced:

MPL has faced many difficulties over the years since its beginning. The company faces ongoing hurdles as a result of its incredible achievement in breaking into the cutthroat online and fantasy game markets.

MPL – Acquisitions:

To date, MPL has purchased 3 businesses. The final business acquired by MPL on February 28, 2022, was GameDuell, a German game studio. With this acquisition, MPL, a prominent esports and skill gaming platform, is poised to extend its business reach into new markets. MPL currently operates in North America, Europe, and Asia. The partnership with GameDuell, a Berlin-based game studio renowned for its expertise in social card and board games, will greatly enhance MPL’s capabilities in developing multiplayer games, including action arcade, board, and puzzle games. In the past, Mobile Premier League had also acquired GamingMonk and Crevise Technologies.

See also  10 Esports Betting Recommendations for Bettors
Companies AcquiredDate
GameDuellFebruary 28, 2022
GamingMonkApril 20, 2021
Crevise TechnologiesMay 8, 2019

MPL – Growth:

MPL started up in India as a mobile game app. It expanded to Indonesia in 2019, its second country market. When it began operating in the USA in 2021, the corporation entered a third nation. The business entered the European market in 2022 when it acquired Berlin-based game studio GameDuell. The corporation declared it would depart the Indonesian market as part of budget cuts in 2022, among other actions.

Note that Games 24×7 and Dream11 are two of the top ten profitable unicorn companies in India that have maintained their valuations over the past few weeks. The sad decision to lay off 350 employees in August 2023 was made by MPL (Mobile Premier League) as a result of the GST Council’s decision to maintain a 28 percent tax on online real-money gaming.

MPL – Partners:

The business started supporting the Indian Premier League as a television partner in 2019. Virat Kohli, a cricket player, was also appointed as a brand ambassador. The business signed on as a sponsor of the Indian Premier League’s Royal Challengers Bangalore and Kolkata Knight Riders in 2020. From November 2020 to December 2022, MPL Sports Apparel & Accessories, a division of the online gaming company, served as the official kit sponsor for the Indian Men’s Cricket Team, Indian Women’s Cricket Team, and Indian Under-19 Cricket Team. In 2021, it was announced that MPL Sports Foundation, in partnership with the Indian Olympic Association, would be the primary sponsor for the Indian team participating in the 2020 Summer Olympics, the 2022 Asian Games, and the 2022 Commonwealth Games.

  • Helix Jump and Color Road were released by MPL in conjunction with Voodoo, a hyper-casual game developer and publisher.
  • The business collaborated on content generation with Prime Focus Technologies.
  • As the uniform sponsor and official merchandising partner, MPL has previously worked with BCCI.
  • As the Indian team’s sponsor, MPL has teamed with the Esports Federation of India (ESFI). MPL has also worked with well-known and undiscovered game creators from all around India.

MPL – Competitors:

Main competitors are –

  • Dream11
  • Cricnwin
  • LXG
  • NODWIN Gaming
  • FanFight

MPL – Awards and Achievements:

  • MPL was honored by the India Gaming Awards as the “Best Fantasy Sports Operator” for the 2019 calendar year.
  • According to the BCCI, the company took over for Nike as the official kit sponsor and merchandise partner of the men’s and women’s national teams as well as the U-19 team (the Board of Control for Cricket in India)
  • India CSR Leadership Award was awarded by MPL in 2021.
  • The Mobile Premier League is regarded as the second gaming unicorn in India.
  • Mobile Premier League (MPL), India’s largest eSports and mobile gaming platform, now features more than 60 titles.

MPL – Future Plan:

Future goals for MPL include adding more games and growing its user base. The corporation also intends to grow its business and technological alliances. In addition, according to sources dated November 25, 2021, MPL is also planning to hire 1,500 more people for its organization by mid-2023. The business has already agreed to a Memorandum of Understanding with the Telangana government and plans to open a 500-seat office there. MPL would also open a second international office, possibly in Seattle or New York, in addition to this. MPL’s founders stated that in addition to reaching EBITDA neutrality, they will use a sizable portion of their cash reserves to support the expansion of their core businesses. The corporation will also keep investing in high-conviction bets like its US operations and its recently created Mayhem Studios. MPL will shut down all of its businesses at the same time that they are not performing as expected.

Conclusion:

MPL is one of India’s most exciting new businesses. The business has a capable workforce, a sizable user base that is still growing, and a promising future. MPL is in a great position to contribute significantly to the expansion of the global and Indian online gaming markets. MPL is dedicated to giving its players an enjoyable and rewarding gaming experience. In order to appeal to a wide spectrum of users, the company provides a wide range of games and services. MPL is dedicated to both responsible gaming and the reduction of gambling addiction. In the future years, MPL should be closely scrutinized. The business has the potential to rank among the top online gaming businesses worldwide.

FAQs:

What does MPL do?

The world’s top mobile eSports platform, Mobile Premier League (MPL), offers free and paid competitions for more than 60 games in a variety of genres, including board, casual, puzzle, and fantasy sports games.

When was MPL founded?

It was founded in 2018.

Who is the founder of MPL Corporation?

MPL was founded by Sai Srinivas Kiran and Shubham Malhotra.

Who is the CEO of MPL Corporation?

Sai Srinivas is the co-founder and CEO of the Mobile Premier League (MPL).

Who are the main competitors of MPL?

Main competitors are –

  • Dream11
  • Cricnwin
  • LXG
  • NODWIN Gaming
  • FanFight

Spread the love

Ankit Kataria