Mobile Premier League raises $500,000 from employees

Esports and gaming platform Mobile Premier League (MPL), today announced that it has raised $500,000 from its existing employees as part of an 'Employee Investment Plan'.

Under the employee investment plan, employees of the company could invest anywhere between $2,300 and $23,000 in the company and acquire the company's stock. Over 10% 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 said that it would continue to extend such opportunities to its employees in the future.

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.

MPL was started in 2018 by Sai Srinivas and Shubh Malhotra. The gaming platform currently employs over 500 people with offices in Bengaluru, Pune, Jakarta, and Singapore.