Mobile Premier League

Mobile Premier League (MPL) is an Indian esports and mobile gaming platform that allows gamers to compete in fantasy, arcade, casual, and sports games for cash prizes. MPL generates revenue through 1) revenue-sharing agreements with game developers who publish games via its platform, 2) a 4% cut from player winnings and 3) a per-user registration fee. The company is headquartered in Bengaluru and has expanded its operations into Indonesia (May 2019) and more recently into the US (July 2021). As of July 2021, the company is reported to have more than 75 million users in India and 5 million users in Indonesia. It also launched a gaming studio called Mayhem Studios to develop multiple esports and other game titles in May 2022.

As of August 2023 , MPL is reducing its workforce by around 50% (~350 employees), given an increase in tax burden by 350%–400%. The company cut 10% of its workforce in order to cap costs and improve financial performance in May 2022 . 30% of the layoffs originated from its Indonesian business, which was launched in 2019, as it prepared to exit the market and discontinue its streaming app. The company planned to break even on an EBITDA basis by December 2022. It revealed that global annual net revenue is on track to surpass USD 100 million.

MPL acquired esports organization ‘Gaming Monk’ at an undisclosed sum in April 2021. Founded in 2014, Gaming Monk is an Indian esports organization that hosts esports tournaments across multiple platforms including PC, console, and mobile with over 1.3 million users as of April 2021. As a result of the transaction, the entire Gaming Monk team was absorbed by MPL. The acquisition facilitated MPL’s development of in-house esports products and broadcasting capabilities. 

Funding and financials

In September 2021, MPL raised USD 150 million in a Series E funding round led by Legatum Capital, bringing its valuation to USD 2.3 billion. Existing investors including Moore Strategic Ventures LLC and RTP Global also participated. MPL plans to funnel the fresh funds into continuing its expansion in the US market where it aims to reach 300,000 players and USD 100 million in gross merchandise value by the end of 2021. Prior to this, MPL also raised a USD 95 million Series D funding round (February 2021) at a USD 945 million valuation.

In FY 2022, the company reported a 29% YoY growth in revenue to USD 65.6 million, while losses worsened threefold to USD 149.3 million. The company attributed this to higher advertising and promotional expenses.