Cellular Premier League (MPL), India’s largest esports and cell gaming platform, right this moment introduced that it has raised $500,000 from its present workers as a part of its distinctive Worker Funding Plan.
MPL’s efforts to make sure that expertise within the firm is rewarded will not be new. In September 2020, the corporate had introduced an ESOP buyback plan value $three.2 million throughout its Sequence C funding spherical, which noticed it increase $90 million from SIG, RTP World, MDI, Sequoia India, and others.
This distinctive Worker Funding Plan, which was introduced in December 2020, was open to all workers of MPL. They might make investments anyplace between $2,300 and $23,000 within the firm and purchase inventory. Over 10 % of MPL workers participated on this plan, with the overall quantity raised at $500,000.
“This initiative was launched in order that our Most worthy asset, our workers, get a possibility to personal a part of MPL and take part within the firm’s success. We’re privileged to work with individuals who have invested within the firm’s future. This underlines the belief they’ve in MPL, and MPL’s religion in its individuals,” mentioned Joe Wadakethalakal, SVP, Company Growth and Investor Relations, MPL.
The corporate additional mentioned that it might proceed to increase such alternatives to its workers sooner or later.
About Cellular Premier League (MPL)
MPL is India’s largest esports and cell gaming platform, with over 6 crore customers within the nation. It has expanded to Indonesia too, gaining a three.5 million-strong consumer base in a 12 months of operations. MPL has labored with quite a few sport builders and on-boarded over 70 video games on its platform. It was based in 2018 by Sai Srinivas and Shubh Malhotra.The gaming platform at present workers over 500 personnel with places of work in Bengaluru, Pune, Jakarta, and Singapore.