~The plan enables existing MPL employees to become shareholders~
National, January 28, 2021: Mobile Premier League (MPL), India’s largest esports and mobile gaming platform, today announced that it has raised $500,000 from its existing employees as part of its unique Employee Investment Plan.
MPL’s efforts to ensure that talent in the company is rewarded is not new. In September 2020, the company had announced an ESOP buyback plan worth $3.2 million during its Series C funding round, which saw it raise $90 million from SIG, RTP Global, MDI, Sequoia India, and others.
This unique Employee Investment Plan, which was announced in December 2020, was open to all employees of MPL. They could invest anywhere between $2,300 and $23,000 in the company and acquire stock. Over 10 percent of MPL employees participated in this plan, with the total amount raised at $500,000.
“This 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. We are privileged to work with people who have invested in the company’s future. This underlines the trust they have in MPL, and MPL’s faith in its people,” said Joe Wadakethalakal, SVP, Corporate Development and Investor Relations, MPL.
The company further said that it would continue to extend such opportunities to its employees in the future.
About Mobile Premier League (MPL)
MPL is India’s biggest esports and mobile gaming platform, with over 6 crore users in the country. It has expanded to Indonesia too, gaining a 3.5 million-strong user base in a year of operations. MPL has worked with numerous game developers and on-boarded over 70 games on its platform. It was founded in 2018 by Sai Srinivas and Shubh Malhotra.The gaming platform currently employees over 500 personnel with offices in Bengaluru, Pune, Jakarta, and Singapore.