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

E-sports and cell gaming platform Cellular Premier League (MPL) introduced that it has raised $500,000 (about Rs 3.65 crore) from current workers as a part of its Worker Funding Plan. The Worker Funding Plan, which was introduced in December 2020, was open to all workers of MPL. They may make investments anyplace between $2,300 and $23,000 within the firm to accumulate inventory.

“Over 10 % of MPL workers participated on this plan, with the whole quantity 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 Sequence C funding spherical that had seen the corporate elevate $90 million from SIG, RTP World, MDI, Sequoia India, and others.

Talking in regards to the new growth, MPL Senior Vice-President (Company Growth and Investor Relations) Joe Wadakethalakal stated, “This (newest) initiative was launched in order that our most precious asset, our workers, get a possibility to personal a part of MPL and take part within the firm’s success.”

The corporate additional stated it might proceed to increase such alternatives to its employees sooner or later.

Based in 2018 by Sai Srinivas and Shubh Malhotra, the gaming platform at present workers 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-strong consumer base in a yr of operations. MPL has labored with quite a few recreation builders and on-boarded over 70 video games on its platform. MPL just lately 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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