Sequoia Capital backed Esports and skill gaming platform MPL on Tuesday announced it has acquired Delhi-based esports gaming platform GamingMonk for an undisclosed amount.
After Nazara Technologies, India’s second-leading gaming company MPL has also started its plan to gain a strong foothold in the Indian market. With the current valuation of $800 million, MPL plans to create a complete suite of esports and broadcasting capabilities that will help the company in bringing key national, regional, and global tournament IPs to India.
GamingMonk is a company that specializes in hosting esports tournaments across multiple platforms including PC, consoles, and mobile phones. GamingMonk has over 1.3 million registered users and serves as a launchpad for the Indian Esports and gaming community. The platform offers gamers an integrated ecosystem across different games where each member can chat, live streaming, discover content, and earn money by playing.
Ashwin Haryani, co-founder, GamingMonk said,
As part of the deal, MPL will absorb the entire GamingMonk team and as well as its IPs.
MPL CEO and Cofounder, Sai Srinivas said,
MPL is also introducing Esports Arena, a banner under which MPL will host fortnightly esports tournaments in some of its smartphone-friendly titles such as chess, WCC, pool, etc. Each of these tournaments will carry a cash prize of Rs10 lakh, and entry will be free-for-all gamers. MPL will also stream the games online across different social media platforms.
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