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Operator
Good morning and good evening. Welcome to the Sea Limited fourth-quarter and full-year 2020 results conference call. [Operator instructions] After today s presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.
I would now like to turn the conference over to Ms. Minju Song. Please go ahead.
Minju Song
Senior Manager and Group Chief Corporate Officer
Hello, everyone, and welcome to Sea s 2020 fourth-quarter and full-year earnings conference call. I am Minju Song from Sea s group chief corporate officer s office. Before we continue, I would like to remind you that we may make forward-looking statements which are inherently subject to risks and uncertainties and may not be realized in the future for various reasons as stated in our press release. Also, this call includes the discussion of certain non-GAAP financial measures such as adjusted EBITDA, and net loss excluding share-based compensation, and changes in fair value
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“Existing investors including the likes of China’s Tencent Holdings, Kalaari Capital, Multiples Alternate Asset Management are among the investors looking to sell their shares. The deal may involve some primary cash infusion but the final contours are still being worked out.” said a person in the know.
In September last year, Dream Sports, founded by Harsh Jain and Bhavit Sheth in 2008,
had announced the closure of a $225 million funding round which too was largely a secondary stake sale transaction. The financing saw the entry of New York-headquartered Tiger Global Management, TPG Tech Adjacencies, ChrysCap and Footpath Ventures into the company with Dream Sports’ valuation swelling to $2.5 billion.
Acquisitions In Indian Startup Ecosystem
Sweden-based free-to-play gaming studios Stillfront Group will acquire Bengaluru-based Moonfrog Labs Private Limited, the company behind popular games like Teen Patti Gold, Ludo Club, Rummy Gold and others. The acquisition will be conducted in four tranches, leading to a 100% takeover.
Online travel and ticketing company Ixigo announced that it will acquire 100% stake in train discovery and booking startup Confirmtkt. The transaction would be a through mix of cash and Ixigo stock. Both companies would continue to operate independently after the transaction.
Other Developments Of The Week
Mumbai-based higher edtech platform upGrad is reportedly in advanced talks to raise $100 Mn from Temasek and World Bank’s International Finance Corporation (IFC) at a valuation of $450 Mn – $500 Mn.
The updated release reads:
MPL VALUED AT $945 MILLION POST LATEST FUNDRAISE
The gaming platform raised $95 million in a Series D round led by Composite Capital and Moore Strategic Ventures
Mobile Premier League, Asia’s largest eSports and mobile gaming platform is now valued at $945 million after raising $95 million in a Series D round.
The MPL gaming platform has over 60 million users in India and over 3.5 million users in Indonesia. With over 50 games across categories on its Android and iOS applications currently, MPL has worked with 28 game developers to publish their games on the platform and provide them with a new revenue stream.