Mobile Premier League or MPL, is an online gaming platform, that provides games like chess, quiz, fantasy sports, rummy, carrom, free fire, ludo etc. MPL has rapidly emerged as a key player in the online gaming industry, particularly in the skill gaming and free-to-play (F2P) segments. It focuses on skill-based games and upgrades with the demand for engaging and rewarding gaming experiences.
MPL Success Story – 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 |
FY24 Revenue | $130 million (22% YoY growth) |
Valuation | $2.3 billion (as of Dec 2024) |
Key Investors | Legatum Capital, Sequoia Capital India, RTP Global |
Website | mpl.live |
MPL – Founders and Team
MPL was founded in 2018 by Sai Srinivas Kiran and Shubham Malhotra.
Sai Srinivas Kiran
He is the CEO of MPL and an alumnus of IIT Kanpur. He started his career at a gaming firm- Zynga and later co-founded CREO Tech. After the acquisition of CREO by Hike Messenger, he co-founded MPL.
Shubham Malhotra
After completing his BE at BITS Pilani, he started being a CTO and co-founder of Capillary Technologies. Even after the acquisition of Creo, he served as a CEO and later decided to co-found MPL with Srinivas Kiran.
The MPL team comprises over 800 employees across offices in Bengaluru, Pune, Singapore, and New York, responsible for the major growth and development of the company.
MPL – Business and Revenue Model
MPL works on a skill-based gaming model, which allows users to participate in different games and tournaments and win real money. MPL generates revenue from the entry fees paid by users for various tournaments. They also provide a F2P model, offering competitions without any fees while monetizing through in-game purchases and ads.
MPL – Growth and Revenue
In FY24, MPl’s parent company achieved a 22% increase in revenue, reaching $130 million, while MPL India’s revenue increased by over 35% to ~$88 million.
MPL – Partnerships and Shareholders
MPL has made strategic partnerships to enhance its brand presence, like
2019: IPL broadcast partner; Virat Kohli as brand ambassador. |
2020: Sponsored RCB and KKR IPL teams. |
2020-2022: Official kit sponsor for Indian cricket teams. |
MPL – Funding and Investors
MPL has raised funding from multiple giants and the company attained the unicorn status after raising funds in its Series E round at a valuation of $2.3 billion. Legatum Capital, RTP Global, Go-Ventures, Founders Circle Capital, Play Ventures, Base Partners and investors such as Sequoia Capital India were included in the round.
MPL – Acquisitions
MPL has made strategic acquisitions to build a market presence, like
– Acquired GamingMonk in 2021 to strengthen esports offerings.
– Acquired GameDuell in 2022, entering the European market.
– Expanded portfolio with card and board games through GameDuell.
MPL – Investments and ESOPs
MPL had great investment plans that helped it grow across the globe and reach new markets and audiences. In 2021, they started operations in the United States and acquired GameDuell in 2022 to mark themselves in Europe as well.
To retain talent and make loyal employees, MPL implemented Employee Stock Ownership Plans (ESOPs). They offered equity stakes and ensured employees’ interests aligned with organisational goals.
MPL – Awards and Recognitions
- Best Fantasy Sports Operator (2019) – India Gaming Awards
- Official Kit Sponsor for Indian Cricket Teams (announced by BCCI)
- India CSR Leadership Award (2021)
- India’s Second Gaming Unicorn
- India’s Largest eSports and Mobile Gaming Platform
MPL – Challenges
MPL has faced several challenges market competition and regulatory changes. They have faced financial hurdles after imposing a 28% Goods and Services Tax (GST) on online gaming in India. MPL had to exit from Indonesia in 2022 due to regulatory issues.
MPL – Future Plans
MPL aims to expand its product offering mainly in the F2P gaming sector while leading in skill gaming. They have recently acquired CloudFeather Games, a gaming development tools provider, to improve their technological capabilities.
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Conclusion
Mobile Premier League (MPL) has become one of the best in the online gaming industry, with its impressive growth, strategic holdings and partnerships. With rapid growth in revenue of $130 million in FY24 and a valuation of $2.3 billion, it continues to expand globally and upgrade its products and services. This makes MPL’s future in the gaming sector look promising, despite all the setbacks.
MPL- Frequently Asked Questions
What is Mobile Premier League (MPL)?
MPL is an online gaming platform that offers a variety of skill-based games like chess, fantasy sports, rummy, carrom, ludo, fire etc.
When was MPL founded?
MPL was founded in 2018 by Shubham Malhotra and Sai Srinivas Kiran G.
How does MPL make money?
MPL makes most of the money through entry fees of the tournaments, in-app purchases and ads in F2P games.
Who are the key investors in MPL?
Legatum Capital, Sequoia Capital India, RTP Global, and others are the major investors of MPL.
Where is the headquarters of MPL located?
MPL is headquartered in Bengaluru, India with other offices located in Pune, Singapore and NewYork.