Understanding Mobile Premier League
In under three years, MPL has become India’s second most valuable gaming company. Can it navigate a crowded market and legal challenges?
16 June, 2021•12 min
0
16 June, 2021•12 min
0
Getting your Trinity Audio player ready...
Why read this story?
Editor's note: Without a doubt, 2021 is a great time to be an online gaming company of any sort in India. Even better if you’ve just raised a big round of equity funding. In February, Mobile Premier League, which is just under three years old, announced it had closed a $95 million round at a valuation of about $945 million. That takes its total funds raised to around $225 million and puts MPL within spitting distance of becoming the second Indian gaming company to be a unicorn—a startup valued at $1 billion or more. The company’s cap table includes the who’s who of investing: Sequoia Capital India, Pegasus Tech Ventures, Indian cricket captain Virat Kohli (also MPL’s brand ambassador), Moore Capital, MDI Ventures, Times Internet and more. Investor interest in gaming has never been higher, in the wake of the COVID-19 pandemic and lockdowns last year that saw usage spike for mobile games in India. Dream11, the fantasy sport company that is the only unicorn in the sector, saw its valuation hit $5 billion early last month in a secondary round where …
More in Internet
Internet
Inside the math of instant help startups
Millions of VC dollars are being splurged to service the last-minute needs of Indians—little revenue, increasing cash burn and far too many variables. At what point does it all come together?
You may also like
Internet
Inside the math of instant help startups
Millions of VC dollars are being splurged to service the last-minute needs of Indians—little revenue, increasing cash burn and far too many variables. At what point does it all come together?
Internet
VC-funded startups are tempting women to join the instant house help business. Can it last?
In India’s instant house help sector, dominated by Snabbit, Pronto and Urban Company, domestic workers have nothing to lose and everything to gain. At least, for the time being.
Internet
Swiggy sounds the alarm bells on quick commerce
Amid an irrational competition brewing in India’s quick-commerce sector, the food and grocery delivery company seems to be taking a far more conservative approach compared to its peers, despite having Rs 16,000 crore in the bank.