From Startup to Sensation: MPL's Remarkable Journey in the Indian Gaming Landscape
One of the success stories in the Indian gaming industry is that of Mobile Premier League (MPL). MPL is a mobile gaming platform that offers a variety of skill-based games and esports tournaments. It was founded in 2018 by Sai Srinivas Kiran G and Shubham Malhotra.
Since its inception, MPL has experienced rapid growth and has become one of the leading mobile gaming platforms in India. The company has gained popularity by providing a wide range of games, including fantasy sports, puzzle games, card games, and more. MPL’s success can be attributed to several key factors:
Variety of Games: MPL offers a diverse range of games that cater to different interests and gaming preferences. This has allowed them to attract a large user base and retain their players by constantly introducing new games and updates.
Esports Tournaments: MPL has been at the forefront of organizing and promoting esports tournaments in India. They have partnered with various game developers and sports franchises to host tournaments with significant prize pools. These tournaments have helped MPL create a competitive gaming ecosystem and attract skilled gamers.
User-Friendly Interface: MPL’s mobile app provides a user-friendly interface that allows players to easily navigate through various games and features. The app’s intuitive design and smooth gameplay experience have contributed to its popularity among gamers.
Strategic Partnerships: MPL has formed strategic partnerships with popular brands and celebrities to enhance its brand visibility. They have collaborated with Bollywood actors, sports stars, and influencers to promote their platform and engage with a wider audience.
Funding and Investments: MPL has raised substantial funding from prominent investors, including Sequoia Capital, Times Internet, and Go-Ventures. These investments have helped MPL expand its operations, enhance its technology infrastructure, and conduct aggressive marketing campaigns.
The success of MPL is reflected in its user base, which has grown exponentially since its launch. The platform has attracted millions of users and has become a household name in India’s gaming community. MPL’s achievements have positioned it as a key player in the Indian gaming industry and have paved the way for the growth of mobile gaming as a whole in the country.
MPL: Redefining the Gaming Experience and Dominating the Indian Market
Diving into MPL’s Success: India’s Largest Mobile e-Sports Platform Making Waves in the Gaming Industry
With over 300 million online gamers in India, real-money gaming has gained immense popularity. MPL, founded in 2018, stands as India’s leading mobile e-sports platform. Founded by Sai Srinivas Kiran G and Shubham Malhotra, MPL has become a unicorn startup, valued at $2.45 billion. Join us as we explore MPL’s remarkable journey, including revenue, funding, founders, competitors, growth, logo, and 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 | $64.36 mn (INR 499.5 cr in FY21) |
| Funding | $425.5 million (December 2021) |
| Website | www.mpl.live |
Table of Contents
MPL – About
MPL – Industry
MPL – Founders/Owners and Team
MPL – Name, Tagline, and Logo
MPL – Funding and Investors
MPL – Investments
MPL – ESOPs
MPL – Business and Revenue Model
MPL – Competitors
MPL – Awards and Recognitions
MPL – Partnerships
MPL – Growth and Revenue
MPL – Acquisitions
MPL – Challenges
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 Mobile Premier League games are distributed into categories like fantasy sports, card games, puzzle games, arcade games, action games and more
The company renders real cash rewards to those who win in these online games. With various offers that float 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 60 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 90 mn users in India.
MPL - Industry
The online fantasy gaming market in India is experiencing tremendous growth, with over 100 million users joining various fantasy gaming platforms in 2020 alone. These platforms, including MPL, are currently engaging 14% of all smartphone users in the country. The revenues from online gaming in India have tripled in a year, reaching $340.5 million in 2020. It is evident that MPL has a significant opportunity in this expanding market in the upcoming years.
MPL operates under the parent company Galactus Funware Technology Private Limited. Established on May 22, 2018, Galactus Funware Technology Private Limited is registered at the Registrar of Companies in Bangalore as a subsidiary of a foreign company. The company offers a wide range of game applications, tournaments, cash rewards, and related services.
Currently, Galactus Funware Technology Private Limited is focusing on Mobile Premier League, which serves
MPL - Founders/Owners and Team
MPL: Founded by Sai Srinivas Kiran G and Shubham Malhotra, Pioneers in the Gaming Industry
Learn about the visionary founders behind MPL, Sai Srinivas Kiran G and Shubham Malhotra. Sai, an IIT Kanpur graduate, brings his experience from Zynga and Hike Messenger, while Shubham, a BITS Pilani alumnus, co-founded Capillary Technologies. Together, they established MPL in September 2018, reshaping the mobile e-sports sector.
In recent developments, MPL underwent organizational changes, including a 10% reduction in their workforce during the May 2022 layoffs. They also introduced a revamped reward system, prioritizing team performance over individual rewards. As of June 20, 2022, MPL merged fixed and variable salary components, aiming to enhance employee compensation. With a talented team that once reached around 1,000 employees, MPL continues to make strides in the gaming industry.
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 Secures $425.5 Million in Funding, Reaching a Valuation of $2.45 Billion
MPL, the leading mobile e-sports platform, has experienced significant success in fundraising. With a total funding amount of $425.5 million, MPL’s valuation soared to an impressive $2.45 billion as of October 2021.
In their latest Series E funding round on September 15, 2021, MPL raised $150 million, with Legatum leading the investment. Prior to that, in February 2021, the Series D round brought in $95 million, led by Composite Capital and Moore Strategic Ventures. Notable participation was observed from Base Partners, RTP Global, SIG, Go-Ventures, Telstra Ventures, Founders Circle, and Play Ventures.
In the preceding Series C round on September 21, 2020, MPL secured $90 million from SIG, RTP Global, MDI Ventures, and Pegasus Tech Ventures. Existing investors, including Sequoia Capital India, Go-Ventures, and Base Partners, also contributed to the round.
The remarkable funding milestones attained by MPL have not only bolstered the company’s financial standing but also affirmed its potential and value within the gaming industry.
| 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 |
MPL - Investments
MPL has invested in 1 company to date, which goes by the name IndiGG.
| Date | Company | Funding Round | Deal Value | Lead Investor |
|---|---|---|---|---|
| January 19, 2022 | IndiGG | Seed Round | $6 mn | – |
MPL - ESOPs
MPL Empowers Employees with ESOPs and Revised Pay Structure
In September 2020, during the Series C funding round, MPL introduced an ESOPs buyback plan worth $3.2 million for its employees. This initiative aimed to provide a valuable opportunity for employees to participate in the company’s growth and success. Additionally, in January 2021, MPL raised $500,000 through its Employee Investment Plan, with approximately 10% of employees reportedly taking part.
Continuing its commitment to employee benefits, MPL implemented changes to its ESOP and pay structure. As of June 20, 2022, MPL reduced the ESOP vesting period, allowing employees to access their ESOPs in a shorter timeframe, from months instead of years. Previously, employees received their first batch of ESOPs at the end of a year-long cliff period, followed by subsequent batches in the following year. This policy was modified to enable immediate vesting of ESOPs.
Furthermore, MPL expanded the window for exiting employees to avail their ESOPs. Under the previous policy, departing employees had 30 days to exercise their ESOPs. However, the updated policy grants a generous period of 10 years from the vesting date for employees to exercise their ESOPs, providing them with enhanced flexibility and potential long-term benefits.
These measures showcase MPL’s commitment to its employees, fostering a supportive and rewarding work environment while aligning their interests with the company’s growth and success.
MPL - Business and Revenue Model
MPL’s core business model revolves around its app, which is instrumental in generating revenue for the company. There are various avenues through which MPL monetizes its platform. Firstly, it charges an entry fee from players whenever they wish to participate in any game, ensuring a steady stream of income. Additionally, when MPL organizes tournaments, it receives a hosting fee equivalent to 20% of the total funds raised from participating players. Furthermore, MPL’s gaming apps generate revenue through advertisements and in-app purchases. The success of MPL can be attributed to its effective business model.
Sai Srinivas Kiran, Co-founder of MPL, acknowledges the company’s diverse monetization strategies. He affirms that they are exploring different forms of monetization, aiming to establish a sustainable long-term source of revenue while maintaining a high level of user engagement.
MPL - Competitors
MPL faces competition from various players in the gaming industry. Some of its notable competitors include:
Dream11: Dream11 is a popular fantasy sports platform that allows users to create their teams and compete in virtual leagues across multiple sports like cricket, football, basketball, and more.
Cricnwin: Cricnwin is a cricket-focused gaming platform that offers users the opportunity to participate in cricket-based contests, quizzes, and prediction games. It provides an interactive and engaging experience for cricket enthusiasts.
LXG (League of Extraordinary Gamers): LXG is a gaming community and platform that organizes esports tournaments and events across various games, including popular titles like Dota 2, Counter-Strike: Global Offensive (CS:GO), and Valorant.
NODWIN Gaming: NODWIN Gaming is an esports company that focuses on organizing and managing esports events, leagues, and tournaments. It covers a wide range of popular games and has a significant presence in the Indian esports market.
FanFight: FanFight is a fantasy sports platform that allows users to create their virtual teams and participate in contests for cricket, football, basketball, and kabaddi. It offers cash prizes based on the performance of the chosen players.
These competitors, along with others in the industry, pose challenges to MPL’s market position and strive to capture the attention of gaming enthusiasts through their unique offerings and engagement strategies.
MPL - Awards and Recognitions
MPL has garnered several notable awards and accolades, demonstrating its achievements and recognition within the gaming industry. Some of the significant awards and recognitions received by MPL to date include:
Best Fantasy Sports Operator (2019): MPL was honored with the title of “Best Fantasy Sports Operator” at the India Gaming Awards in 2019, highlighting its excellence in providing fantasy sports experiences to its users.
Official Kit Sponsor and Merchandise Partner (BCCI): MPL secured a significant partnership with the Board of Control for Cricket in India (BCCI) and replaced Nike as the official kit sponsor and merchandise partner for the national men’s and women’s cricket teams, as well as the U-19 team. This partnership showcases MPL’s growing influence in the cricketing ecosystem.
India CSR Leadership Award (2021): MPL was the recipient of the India CSR Leadership Award in 2021. This award recognizes MPL’s commitment and contribution to corporate social responsibility initiatives in India.
Second Gaming Unicorn in India: MPL has achieved the status of being India’s second gaming unicorn. This designation signifies MPL’s exceptional growth and valuation in the gaming industry, establishing its position as a significant player in the Indian market.
Largest eSports and Mobile Gaming Platform in India: MPL boasts a collection of over 60 games, solidifying its position as India’s largest eSports and mobile gaming platform. This expansive selection of games contributes to MPL’s popularity and appeal among gaming enthusiasts.
These accolades highlight MPL’s success, industry recognition, and its emergence as a key player in the Indian gaming and eSports landscape.
MPL - Partnerships
MPL has established several noteworthy partnerships, contributing to its growth and revenue generation. Here are some prominent collaborations:
Partnership with Voodoo: MPL partnered with hyper-casual game developers and publishers, Voodoo, to launch popular games like Helix Jump and Colour Road on its platform. This collaboration helped MPL expand its game library and offer engaging experiences to its users.
Partnership with Prime Focus Technologies: MPL joined forces with Prime Focus Technologies for content creation. This partnership likely aimed at enhancing MPL’s content offerings, potentially including live streaming, game highlights, and other video content to further engage its user base.
Partnership with BCCI: MPL secured a significant partnership with the Board of Control for Cricket in India (BCCI) as the official kit sponsor and merchandise partner for the national cricket teams. This collaboration not only boosted MPL’s brand visibility but also opened up opportunities for cricket-themed promotions and engagement with a wider audience.
Partnership with Esports Federation of India (ESFI): MPL became sponsors of the Indian team in collaboration with the Esports Federation of India. This partnership aligns MPL with the growing esports ecosystem in India and positions the company as a supporter of competitive gaming.
Collaboration with Game Developers: MPL has partnered with established as well as independent game developers from across India. By collaborating with these developers, MPL expands its game portfolio, ensuring a diverse range of gaming options for its users while supporting and promoting the local game development community.
These strategic partnerships and collaborations have played a crucial role in MPL’s growth and revenue generation. They have helped MPL expand its game offerings, strengthen its brand presence, and tap into various segments of the gaming market, contributing to its overall success in the industry.
MPL - Growth and Revenue
MPL has experienced significant growth and success, as evidenced by various milestones and financial achievements. Here are the growth highlights and financial breakdown of MPL:
Growth Highlights:
- MPL has accumulated over 90 million users in India alone and offers a portfolio of 60+ games, showcasing its widespread popularity and diverse gaming offerings.
- The company is a member of prominent industry associations such as AIGF, FICCI, IAMAI, and TRF, further establishing its presence and commitment within the gaming industry.
- MPL secured the official sponsorship for Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB), two prominent teams in the Indian Premier League (IPL), in August 2020.
- Indian cricketer Virat Kohli became MPL’s brand ambassador in March 2019, enhancing the company’s brand recognition and association with sports.
Financials:
- In FY20, MPL reported an annual revenue of INR 22.4 crore, a substantial increase from the INR 2.87 crore reported in FY19. The company’s total income reached INR 499.5 crore, indicating significant growth and a 2130% rise in revenue compared to the previous fiscal year.
- MPL achieved an annual revenue run rate of $1.5 – $2 billion during FY20, showcasing its fast-paced scaling and revenue generation capabilities.
- In FY21, MPL witnessed a remarkable 21X boost in sales revenue, reaching INR 378.5 crore compared to INR 17.6 crore in the previous fiscal year.
- MPL’s other income rose from INR 4.8 crore in FY20 to INR 120.9 crore in FY21, reflecting a substantial increase in revenue from additional sources.
- The company’s expenses also increased significantly, with annual expenses reaching INR 628.9 crore in FY21 compared to INR 317.4 crore in FY20, primarily driven by factors such as rent, advertising and promotional expenses, and IT expenses.
- MPL improved its EBITDA margins from -1624% to -105.06% in FY21, indicating a positive trend in operational efficiency and narrowing losses from INR 294.9 crore to INR 129.4 crore.
These financial figures demonstrate MPL’s rapid growth trajectory, with substantial increases in revenue and user base. While the company has experienced expenses proportional to its expansion, it has also made progress in narrowing losses and improving its operational margins.
MPL - Acquisitions
| Companies Acquired | Date | Deal Value |
|---|---|---|
| GameDuell | February 28, 2022 | – |
| GamingMonk | April 20, 2021 | – |
| Crevise Technologies | May 8, 2019 | – |
MPL has made three acquisitions as part of its growth strategy. The most recent acquisition was GameDuell, the German Game Studio, on February 28, 2022. This acquisition enables MPL, a renowned esports and skill gaming platform, to expand its operations into international markets. With a presence in Europe, Asia, and North America, MPL aims to leverage its partnership with GameDuell, a Berlin-based game studio known for its expertise in multiplayer games such as action arcade, board, and puzzle games.
Prior to GameDuell, MPL acquired GamingMonk on April 20, 2021, and Crevise Technologies on May 8, 2019. The deal values for these acquisitions are not disclosed publicly. Through these strategic acquisitions, MPL enhances its capabilities, strengthens its game portfolio, and reinforces its position as a key player in the gaming industry.
MPL - Challenges
MPL has encountered various challenges throughout its existence. Here are some of the key challenges faced by the company:
Intense Competition: The online and fantasy gaming industry is highly competitive, with numerous players vying for market share. MPL has had to differentiate itself and constantly innovate to stay ahead of competitors.
Regulatory Landscape: The gaming industry is subject to various regulations and legal considerations. MPL has had to navigate through these regulatory frameworks, ensuring compliance and adapting to any changes in laws or policies.
User Acquisition and Retention: Attracting and retaining users in a competitive market is a challenge. MPL has had to employ effective marketing strategies and offer engaging experiences to acquire new users while keeping existing users satisfied and loyal.
Monetization Strategies: Developing sustainable monetization models can be challenging. MPL has had to explore different revenue streams, such as entry fees, in-app purchases, and advertisements, while balancing the need for profitability with providing a positive user experience.
Technological Advancements: The gaming industry is constantly evolving, with new technologies and trends emerging regularly. MPL has had to adapt to these advancements, ensuring its platform remains up-to-date, scalable, and capable of delivering seamless gaming experiences.
User Trust and Security: Building and maintaining trust among users is crucial. MPL has had to prioritize user data privacy and security, implementing robust measures to safeguard user information and prevent unauthorized access.
Expansion and Global Presence: As MPL aims to expand internationally, entering new markets and establishing a global presence presents challenges related to cultural nuances, localization, and understanding the preferences of diverse user bases.
Despite these challenges, MPL has demonstrated its ability to overcome obstacles and achieve remarkable growth. By continuously evolving and addressing these challenges head-on, MPL has solidified its position as a leading player in the online and fantasy gaming industry.
MPL - Future Plans
MPL has ambitious future plans to further strengthen its position in the online gaming industry and expand its offerings. Some of its key future plans include:
International Expansion: MPL aims to expand its presence beyond its existing markets in India, Europe, Asia, and North America. The company intends to enter new regions and tap into the growing global demand for online gaming.
Diversification of Game Portfolio: MPL plans to continue expanding its game portfolio, offering a wide range of genres and experiences to cater to different user preferences. This includes the development and acquisition of new games across various genres, such as action, sports, strategy, and more.
Partnerships and Collaborations: MPL will continue to forge strategic partnerships and collaborations with game developers, content creators, and influencers to enhance its offerings and reach a wider audience. These partnerships may involve co-developing games, creating exclusive content, and leveraging the expertise of industry leaders.
Enhanced User Experience: MPL aims to continuously improve its platform and user experience by leveraging advancements in technology. This includes optimizing gameplay, introducing new features, enhancing social interactions, and providing a seamless and immersive gaming experience across devices.
Innovation and Technology: MPL will focus on staying at the forefront of technological advancements in the gaming industry. This involves exploring emerging technologies like augmented reality (AR), virtual reality (VR), and blockchain to enhance gameplay, introduce new gaming experiences, and ensure a secure and transparent ecosystem.
Community Building: MPL recognizes the importance of fostering a strong gaming community. It plans to invest in community-building initiatives, such as organizing tournaments, events, and esports competitions to engage users, encourage healthy competition, and create a vibrant gaming community.
Expansion into Esports: MPL aims to strengthen its presence in the esports sector by hosting and sponsoring more esports tournaments and collaborating with professional esports teams and players. This will help in creating a dedicated esports ecosystem and providing opportunities for aspiring esports enthusiasts.
By executing these future plans, MPL intends to solidify its position as a leading global online gaming platform, attract a larger user base, and offer a diverse range of engaging experiences to gamers worldwide.
FAQs
Who is the Owner/Founder of MPL?
MPL (Mobile Premier League) is owned by Galactus Funware Technology Pvt Ltd. It was co-founded by Sai Srinivas Kiran and Shubham Malhotra.
Who is the CEO of MPL?
The CEO of MPL is Sai Srinivas Kiran G, who is also one of the co-founders of the company.
MPL is which country’s app?
MPL is an app based in India. It is a mobile e-sports platform headquartered in Bangalore, Karnataka.
Who is MPL’s Parent Company?
The parent company of MPL is Galactus Funware Technology Pvt. Ltd., a private company incorporated on May 22, 2018.
When was the Mobile Premier League founded?
The Mobile Premier League was founded in 2018.
How much money does MPL give?
The amount of money that can be won on MPL varies depending on the games and tournaments. For simple games, the average entry fee is around INR 15, and the potential winnings can be around INR 200. Additionally, users can earn money by referring MPL’s games to their friends.
Is MPL App legal?
MPL app is generally legal in India. However, it’s important to note that the legal status of online gaming apps can vary based on regional regulations. In some cases, certain states or regions may have specific restrictions or regulations regarding online gaming platforms like MPL.
Is MPL KYC Safe?
MPL is certified by MasterCard and Visa as a secure platform, indicating that their Know Your Customer (KYC) process and overall security measures are reliable.
What are the Mobile Premier League games?
Mobile Premier League offers a wide range of games, including fantasy sports, card games, arcade games, action games, and more. The platform provides a diverse selection of games to cater to different gaming preferences and interests.
