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Gaming app MPL, founded just 3 years ago, turns unicorn🎰
Mobile Premier League became India’s second gaming unicorn, raising funds at a $2.3 billion valuation after the pandemic drove entertainment-starved consumers toward mobile playing.
MPL, which connects game publishers with players, currently has about 80 million users, of which about 10 million spend money on it.
Gaming companies, along with streaming services and online retailers, have been the biggest beneficiaries of pandemic-induced lockdowns.
MPL was born in the fall of 2018 and within three months hit 600,000 daily active users. The app launched just as affordable smartphones, cheap internet data, and reliable digital payment infrastructure were fueling the growth of mobile gaming.
Truecaller targets to raise $116 Mn in Stockholm IPO📞
Truecaller, the Swedish caller identification service that counts India as its biggest market, plans to list on Nasdaq Stockholm. As of October 2020, 75% of the service’s daily active users and 92% of its monthly active users came from India.
The listing is expected to be completed during the fourth quarter of 2021. It plans to use gross proceeds of about $116 million to grow its business in existing markets and enter new ones.
The company, which has 280 million monthly active users, reported sales of about $57 million in 2020, up from about $22 million in 2018.
Anar, a business-to-business networking app, has raised $6.2 million in a seed funding round co-led by Elevation Capital and Accel India.
Canva, a graphic design and collaboration platform, has been valued at $40 billion after raising $200 million in a funding round led by investment management firm T. Rowe Price.
TCS first Indian tech company to cross $200 Bn m-cap💸
Tata Consultancy Services, India's largest software exporter crossed $200 billion in market capitalization on Wednesday, as investors backed technology service providers who are growing their business helping the digital transformation.
TCS, which completes 50 years, was listed on the stock exchanges in 2004. It took 13.5 years to get to a $100 billion market cap, while the next $ 100 billion took 3.5 years.
TCS's global rivals Accenture has a market cap of $216 billion and IBM at $122 billion, while Infosys is valued by investors at $99 billion.
Tweet of the day🐥
✅ Food delivery platforms Swiggy and Zomato may soon have to pay Goods and Services Tax (GST).
✅ TIME Magazine's '100 Most Influential People 2021' list includes PM Modi; Mamata Banerjee, and Adar Poonawalla also feature.
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