From $4M investment to a $360M exit: The PlaySimple story

Bengaluru-based game developing startup PlaySimple was acquired by Sweden-based Modern Times Group (MTG) for a whopping $360 million — one of the largest deals among gaming startups in India.

From $4M investment to a $360M exit: The PlaySimple story

Saturday July 03, 2021,

4 min Read

Bengaluru-based game developing startup PlaySimple was acquired by Sweden-based Modern Times Group (MTG) for a whopping $360 million — one of the largest deals among gaming startups in India. 

While PlaySimple has raised just $4 million in funding from Elevation Capital and Chiratae Ventures, the startup has grown its revenue by 144 percent in the 2020 calendar year to $83 million, with an adjusted EBITDA of $18 million.

Mirroring the strong sentiments in the Indian startup ecosystem, PlaySimple's estimated H1 revenues also shot up by approximately 82 percent, touching an estimated $60-64 million.

Incorporated in 2014 by brothers Siddharth Jain and Siddhanth Jain — with Preeti Reddy and Suraj Nalin as co-founders, PlaySimple is focused on mobile games across the categories of trivia, word, and puzzle. 

"PlaySimple is a rapidly growing and highly profitable games studio that quickly has established itself as one of the leading global developers of free-to-play word games, an exciting new genre for MTG," says MTG’s Group President and CEO Maria Redin.


Read all about how the Indian startup ecosystem is battling the second wave of COVID-19 here.

Here are some useful tools to help you find the nearest vaccine centres in real-time.

You can also share a tribute to COVID-19 warriors, saviours, and survivors here.

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Viraj Sheth, Co-founder and CEO, Monk Entertainment, discusses the constant hustle and disruption culture of the startup ecosystem and its effect on founders’ and employees’ mental health and overall well-being, influencer marketing in the pandemic and much more.

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Launched in 2019, FamPay is a fintech solution that helps children below the age of 18 assert their own financial independence via an app that’s designed just for them. Read more.


FamPay founders Kush and Sambhav

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Helping marketers build engaging emails

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snapshot mailmodo

News & Updates

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Before you go, stay inspired with… 

Maria Redin
"An experienced management team and focused, the data-driven operating model has allowed PlaySimple to develop multiple game hits especially popular with the growing global audience of female gamers."

Maria Redin, President and CEO, MTG Group

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