E-sports gaming platform Mobile Premier League raises $500,000 from employees – Business News , Firstpost

Founded in 2018 by Sai Srinivas and Shubh Malhotra, the corporate is the official sponsor of the IPL groups Kolkata Knight Riders and Royal Challengers Bangalore.

Mobile Premier League emblem

E-sports and cellular gaming platform Mobile Premier League (MPL) introduced that it has raised $500,000 (about Rs 3.65 crore) from present employees as a part of its Employee Investment Plan. The Employee Investment Plan, which was introduced in December 2020, was open to all employees of MPL. They might make investments anyplace between $2,300 and $23,000 within the firm to accumulate inventory.

“Over 10 percent of MPL employees participated in this plan, with the total amount raised at $500,000,” in line with the assertion. In September 2020, the corporate had introduced an ESOP buyback plan price $3.2 million throughout its Series C funding spherical that had seen the corporate increase $90 million from SIG, RTP Global, MDI, Sequoia India, and others.

Speaking in regards to the new improvement, MPL Senior Vice-President (Corporate Development and Investor Relations) Joe Wadakethalakal mentioned, “This (latest) initiative was introduced so that our most valuable asset, our employees, get an opportunity to own part of MPL and participate in the company’s success.”

The firm additional mentioned it will proceed to increase such alternatives to its workers sooner or later.

Founded in 2018 by Sai Srinivas and Shubh Malhotra, the gaming platform at the moment employees over 500 personnel with workplaces in Bengaluru, Pune, Jakarta, and Singapore. The startup has over six crore customers within the nation. It has expanded to Indonesia too, gaining a 3.5 million-sturdy consumer base in a yr of operations. MPL has labored with quite a few sport builders and on-boarded over 70 video games on its platform. MPL not too long ago signed up because the ‘official sponsor’ for Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) — two of the groups within the IPL (Indian Premier League).

With inputs from PTI.

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