In a digital era driven by mobile-first experiences, Mobile Premier League (MPL) has carved out a name as one of India’s largest and fastest-growing online gaming platforms. Launched in 2018 by Sai Srinivas Kiran G and Shubham Malhotra, MPL allows users to play skill-based games like chess, carrom, rummy, ludo, and fantasy sports. Within just six years, the startup scaled to a $2.3 billion valuation and $130 million in annual revenue, proving the enormous potential of eSports and casual gaming in emerging markets.
Founders and Team
MPL was co-founded by Sai Srinivas Kiran G, an IIT Kanpur graduate and former Zynga employee, and Shubham Malhotra, a BITS Pilani alumnus and former CTO of Capillary Technologies. The two earlier co-founded CREO, which was acquired by Hike Messenger, before launching MPL under their parent company Galactus Funware Technology Pvt Ltd. Today, MPL has over 800 employees working from offices in Bengaluru, Pune, Singapore, and New York.
Business and Revenue Model
MPL operates on two models: skill-based paid tournaments and free-to-play (F2P) games. In paid formats, users pay an entry fee to participate in competitive tournaments and win real cash prizes. F2P games attract mass users, monetized through in-app purchases and advertisements. This hybrid model has helped MPL acquire millions of users and generate consistent revenue.
Revenue and Growth
In FY24, MPL's parent company reported $130 million in revenue—a 22% year-over-year growth. MPL India’s revenue stood at around $88 million, up by 35%. The platform has over 90 million users, making it one of the largest mobile gaming platforms in Asia. MPL’s product expansion and strategic acquisitions continue to drive strong growth domestically and internationally.
Strategic Partnerships and Sponsorships
MPL boosted brand recognition through key sports partnerships:
- In 2019, Virat Kohli became the brand ambassador.
- MPL sponsored IPL teams Royal Challengers Bangalore (RCB) and Kolkata Knight Riders (KKR).
- From 2020 to 2022, MPL was the official kit sponsor for the Indian men's and women's cricket teams, announced by BCCI. These collaborations helped MPL gain mainstream appeal and trust.
Funding and Investors
MPL has raised funds across multiple rounds, achieving unicorn status during its Series E funding. Investors include Legatum Capital, Sequoia Capital India, RTP Global, Go-Ventures, Founders Circle Capital, Base Partners, and Play Ventures. The company’s strong investor base and backing from global funds have allowed it to expand into new geographies and invest in tech innovation.
Acquisitions and International Expansion
- In 2021, MPL acquired GamingMonk to strengthen its esports presence.
- In 2022, it acquired GameDuell, marking its entry into the European gaming market.
- In 2024, it acquired CloudFeather Games to improve its backend gaming infrastructure. MPL also launched operations in the United States in 2021, signaling its global ambitions.
Employee Engagement and ESOPs
To retain top talent, MPL introduced a strong ESOP (Employee Stock Ownership Plan) policy. These stock options reward employees with ownership, aligning their success with company performance and promoting long-term loyalty.
Awards and Recognition
- Best Fantasy Sports Operator (2019) – India Gaming Awards
- India CSR Leadership Award (2021)
- Official Kit Sponsor of Team India (2020–2022)
- Named as India’s Second Gaming Unicorn
- Widely regarded as India’s Largest eSports and Mobile Gaming Platform
Challenges Faced
Despite rapid growth, MPL faced hurdles. In 2022, the company had to exit Indonesia due to regulatory uncertainty. The Indian government’s imposition of 28% GST on online gaming also affected profitability. However, MPL has continued to adapt by focusing on global markets and diversifying game offerings.
Future Plans
MPL aims to be a dominant force in both skill-based and free-to-play gaming worldwide. It is focusing on:
- Expanding to new global markets
- Growing its user base in the U.S. and Europe
- Investing in backend technologies like cloud gaming tools
- Launching more casual games to enhance F2P engagement With strategic acquisitions and product innovation, MPL is poised for long-term success.
Wrapping Up
Mobile Premier League (MPL) is a prime example of how vision, innovation, and user-first strategy can reshape an industry. From a fledgling startup in 2018 to a $2.3 billion gaming leader, MPL has built a diversified portfolio of games and earned the trust of millions. With a focus on transparency, scalability, and fun, MPL is not just redefining online gaming in India—it’s creating a global benchmark for digital entertainment.
Frequently Asked Questions (FAQs)
Q1. What is MPL and what does it offer?
MPL is a mobile gaming platform offering skill-based games like chess, ludo, fantasy sports, rummy, and more.
Q2. Who are the founders of MPL?
MPL was founded by Sai Srinivas Kiran G and Shubham Malhotra in 2018.
Q3. How does MPL generate revenue?
MPL earns revenue from tournament entry fees, in-app purchases, and advertisements in its free-to-play games.
Q4. What is MPL’s valuation as of 2024?
MPL is valued at approximately $2.3 billion as of December 2024.
Q5. Where is MPL headquartered?
MPL is headquartered in Bengaluru, India, with offices in Pune, Singapore, and New York.