Bisnis.comJAKARTA- start Game and India Mobile Premier League or MPL tournament, announced that it has closed its operations in Indonesia. In the meantime, this closure has led to the termination of employment (layoffs) employees ten percent of the total number of employees or up to 100 people.

“Sorry, MPL Indonesia is no longer functioning and is currently accepting new users. Thank you for your support and attention,” Mobile Premier League was quoted as saying on its official website, Wednesday (1/6/2022).

Mobile Premier League also asks users to immediately open the app and follow the instructions to withdraw winning diamonds belonging to users. MPL Indonesia is also grateful for the support from players and all parties.

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 in different categories, such as daily fantasy sports, quizzes, board games, esports, and casual games on its app. The startup serves over 90 million users in India and the United States.

Reporting to Inc24 and Moneycontrol, Sai Srinivas and Shubh Malhotra said that over the past few months, business conditions were very complicated and growth targets were not as expected.

“It is time to make the difficult decision to redeploy our resources to other parts of the business to ensure our long-term health and success as a business,” a company representative said in an email. -mail.

In the meantime, this news is very surprising. Indeed, MPL has just acquired the GamingMonk streaming platform in April 2021. As part of the transaction, MPL completely absorbed the GamingMonk team. Apparently, most of the employees affected by this layoff were from GamingMonk.

Sai Srinivas and Shubh Malhotra 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.

Where MPL laid off 100 employees from various divisions, which was about 10% of the total workforce. Mentioned that this layoff happened in the streaming division. MPL also said it would remain responsible by providing employees with full severance pay and other benefits.

The layoffs come eight months after MPL raised $150 million in a funding round that earned MPL its unicorn position in India. Recently, MPL ventured into game publishing with the launch of Mayhem Studios and entry into the US and European markets. The founder said the MPL business saw positive profits there within nine months of its launch.

Quoting the Crunchbase website, MPL’s total funding was US$375.5 million with 19 investors including Base Partners, Susquehanna International Group (SIG), Go-Ventures, Accrete Capital, Moore Strategic Ventures, Telstra Ventures, Play Ventures, Legatum and RTP Global.

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