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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
In under three years, MPL has become India’s second most valuable gaming company. Can it navigate a crowded market and legal challenges?
Editor's note: Without a doubt, 2021 is a great time to be an online gaming company of any sort in India. Even better if you’ve just raised a big round of equity funding. In February, Mobile Premier League, which is just under three years old, announced it had closed a $95 million round at a valuation of about $945 million. That takes its total funds raised to around $225 million and puts MPL within spitting distance of becoming the second Indian gaming company to be a unicorn—a startup valued at $1 billion or more. The company’s cap table includes the who’s who of investing: Sequoia Capital India, Pegasus Tech Ventures, Indian cricket captain Virat Kohli (also MPL’s brand ambassador), Moore Capital, MDI Ventures, Times Internet and more. Investor interest in gaming has never been higher, in the wake of the COVID-19 pandemic and lockdowns last year that saw usage spike for mobile games in India. Dream11, the fantasy sport company that is the only unicorn in the sector, saw its valuation hit $5 billion early last month in a secondary round where …
The online storytelling company is betting that content will be the most sought-after commodity as scores of platforms jump on the microdrama bandwagon. But success will hinge on whether it has a good enough story to draw the audience.
SEBI has lowered the bar for loss-making startups to list. In that context, a company like Zepto redefines the meaning of risk in public market investing.
The 15-year-old company has bought one brand after another in the hope of growing fast. That plan has fallen flat on its face, but there’s no stopping Wingreens.
