[What The Financials] To-Be Unicorn MPL Spent INR 21 For Every Rupee In Revenue In FY20; Loss Up By 162%
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India, Feb. 12 -- Mobile Premier League or MPL only launched its gaming product in October 2018 at a time when real money online gaming startups were facing increased pressure from petitions in high courts in India. While many demanded a ban on real-money online gaming, the sector grew nevertheless, and with it rose MPL. The next year, Dream11 became the first Indian gaming unicorn to underline the bright future for online gaming in India. And this year, MPL, after its recent $100 Mn funding round, has a valuation of $945 Mn, agonisingly short of the $1 Bn mark.
As it looks to seal its status as a unicorn, the company has opened its operating revenue account. In the fiscal year ended March 31, 2020 (FY20), MPL recorded revenue of INR 18....
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