Online gaming platform Mobile Premier League (MPL) is going to lay off 100 employees. Let us tell you that the company has decided to exit Indonesia market due to recession.
Established in 2018, MPL organizes crores of tournaments a month. It has more than 90 million users registered in India, Indonesia, Europe and America.
Sai Srinivas and Shubh Malhotra, co-founders of MPL, said, “We have decided to discontinue our Indonesia operations and the streaming product on the MPL app. We have invested significant resources and capital in Indonesia operations over the past three years.
But Indonesia’s return profile was much lower than India and US businesses, he said.
He Said That The Fired Employees Would Be Given Retirement and other Benefits
We are one of the few Internet companies that will exceed $100 million in annual revenue globally within four years of its founding, the co-founders said in an email.
On a gross revenue basis, we would be at $220-250 million in the year ending March 2023. We have a massively growing market before us, but to capture that, we have to operate more efficiently today.
MPL is ‘Mobile eSports Platform’. In which 60 plus games are present in many categories including mobile games, daily fantasy sports, quizzing and board games. To be a part of these games, users have to pay some amount.