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Mobile Premier League (MPL) announced a Series E financing on September 15, 2021, at a $2.3 billion pre-money valuation. The company did not disclose how much it raised; contemporaneous reporting put the amount at $150 million, citing people familiar with the deal. Those figures are not interchangeable: the valuation was company-announced, while the fundraising amount was media-reported.
What MPL announced—and what was reported
MPL named Legatum Capital as the lead investor in its Series E and announced the $2.3 billion pre-money valuation. In a company announcement, co-founder and CEO Sai Srinivas described the financing as “a recognition of the potential of the Indian gaming and esports industry and an endorsement of the capability of MPL to expand globally.” MPL’s September 15, 2021 announcement did not state the round’s size.
Business Standard, citing Bloomberg and people familiar with the transaction, reported that MPL raised $150 million. Because MPL did not confirm that amount in its announcement, it should be treated as a reported figure, not a company-disclosed term.
Who invested in the Series E?
MPL identified Legatum Capital as the lead investor and named these existing investors as participants:
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- Sequoia
- SIG
- RTP Global
- Go-Ventures
- Moore Strategic Ventures
- Play Ventures
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- Founders Circle Capital
What MPL said it would do with the funding
MPL said the capital would support three priorities: global expansion, investment in its home-grown technology, and continued growth in India. The announcement did not allocate specific amounts to those goals.
MPL’s gaming business and expansion context
In 2021, Bloomberg described MPL’s app as connecting game publishers with players. The platform offered free games and gaming contests, including contests with paid entry and prizes; that is a description of its historical model, not an endorsement of paid play.
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- WHAT'S INCLUDED: This pocket-size baseball card game includes 36 action cards, 2 instruction cards, 1 score card, and a foldable baseball diamond field sheet measuring 8.25" x 11.25". Use a penny, rock, or jellybean as your players
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At the time of the funding announcement, MPL said it had more than 90 million registered users globally, had recently begun operating in the United States, and had completed two years of operations in Indonesia. These are 2021 company-reported figures, not current operating statistics. In another example of its expansion activity, MPL said it had partnered with Play Magnus Group to host an Indian circuit through which players could qualify for the Meltwater Champion Chess Tour.
What MPL reports about its platform now
MPL’s current About page reports a portfolio of more than 60 games and more than 120 million registered users across India, the United States, Nigeria, and Brazil. These are current company-reported figures; the page does not show a publication date. They should be kept separate from the company’s 2021 user count and country references.
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Why the distinction between valuation and funding amount matters
A pre-money valuation is the company’s stated valuation before the new investment is added. It is not the amount raised. In this case, MPL announced the $2.3 billion pre-money valuation, while the $150 million financing amount came from contemporaneous reporting based on anonymous sources. The available announcement does not establish the round’s precise terms beyond the valuation, lead investor, and intended use of funds.
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