The Sequoia-backed gaming company has been struggling to find its next big endeavour and grow into its valuation.
It seems that Mobile Premier League saw the writing on the wall early, perhaps in February itself. The online gaming company had stepped out to raise funds, held a few discussions and in the process, sensed that things were about to go south.
Just a few months before, in September 2021, MPL had announced a massive round. The four-year-old company had raised around $150 million at a valuation of $2.3 billion, a significant number for an Indian gaming company. In its previous fundraising round, in February 2021, MPL had been valued at $945 million.
It was a big jump but …
Harveen is a co-founder at The Morning Context, and leads our Internet coverage. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses—from e-commerce to healthtech to streaming.
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