Mobile Premier League Surrenders in Indonesian Market
The Mobile Premier League (MPL) gaming and tournament platform announced the closure of operations in Indonesia, in connection with which it also laid off employees working in Indonesia.
In addition, along with business adjustments, the company laid off 10% of its total employees. As is known, MPL is a startup from India that currently has a presence in a number of Asia Pacific countries, the United States, and Europe.
This information was confirmed directly by the company through its Instagram account which was uploaded yesterday (30/5). “MPL Indonesia informs that we are currently no longer operating and do not accept new users. Thank you for the support from the players and all parties,” said MPL Indonesia.
Previously, this information was first reported by Inc24. MPL has also confirmed this decision. Mentioned this layoff occurred in the streaming division. Employees will receive a complete severance package along with other benefits.
Separately quoting from Moneycontrol, MPL founders Sai Srinivas and Shubh Malhotra said that over the past few months the situation had become very complicated. The growth target is not as expected. The market today values profitable growth at all costs.
This news is so shocking. This is because MPL acquired the GamingMonk streaming platform in April 2021. As part of the transaction, MPL absorbed the entire GamingMonk team. Allegedly, most of the employees affected by this layoff came from GamingMonk, after more than a year a little after the deal.
The founders also explained the reasons for leaving Indonesia in the email. According to them, MPL sees a return profile that is only a fraction of what they expected, despite having invested heavily in its Indonesian operations.
The layoffs come eight months after MPL raised $150 million in a funding round that earned MPL the title of unicorn in India.
MPL was founded in 2018 by Srinivas, Kiran G, and Malhotra, MPL is an esports and tournament platform. The platform offers more than 70 games across various categories, such as daily fantasy sports, quizzes, board games, esports and casual games on its app. The startup serves more than 90 million users across India and the US.
More recently, MPL ventured into game publishing with the launch of Mayhem Studios and its entry into the US and European markets. The founder said the MPL business there had positive earnings within nine months of its launch.
Accordingly, the company will focus on achieving EBITDA neutrality, while focusing on key global markets. To support this ambition, in September 2021, MPL raised a new $2.3 billion fund led by Legatum Capital, with participation from Sequoia, SIG, RTP Global, Go-Ventures, Moore Strategic Ventures and others.
Previously, MPL Indonesia was led by Ridzki Syahputera as VP & Country Head. Through the MPL site and application, users in Indonesia can enjoy two categories of games, namely casual games and fantasy sports games.
“Every game that exists puts the player’s ability ahead of luck, so in MPL users really have to practice and hone their skills,” said Ridzki.
While related to the contest, there are several types that can be followed. Starting from tournaments, head-to-head battles (one-on-one with the same skill level), arena battles and mega contest (tournament with bigger time and prize).
Any player interested in joining a session will be charged a fee. In these sessions there are certain prizes from the nominal collected – in some events prizes are also provided from sponsors. Users can also exchange points (diamonds) obtained through the MPL Mall feature to be exchanged for various vouchers provided.
It is claimed that MPL’s overall user growth has reached 85%, the pandemic has also driven an increase in the user base. Since March last year, there has been a 55% increase in game play and 7 times the number of users. But the pandemic also presents many challenges for companies.