Delhi NCR-based gaming startup Zupee has acquired Mumbai-based microdrama startup Vertical TV to strengthen its short-video offering, sources told Inc42.
The acquisition, valued at under INR 40 Cr, will help Zupee strengthen its recently launched short-video content platform Zupee Studio.
Vertical TV has started hiring talent to scale Zupee Studio, the sources added.
Vertical TV was launched by Mohit Paliwal in 2024 under the umbrella brand ‘The Eight Network’. Inc42 couldn’t ascertain if Paliwal joined Zupee following the acquisition.
Zupee declined to comment on Inc42’s queries on the development.
Notably, Zupee fired around 40% of its workforce, or 200 employees, last week as part of a cost-cutting exercise following the ban on real money gaming. The layoffs were announced in a town hall by cofounder and CEO Dilsher Singh Malhi.
The layoffs came almost four months after the startup fired around 170 employees, nearly 30% of its workforce.
The Delhi NCR-based startup, which has raised $120 Mn in funding to date, counts investors such as Z47 Partners, Orios Venture Partners, Nepean Capital, among others, as its backers. It has been reeling under pressure after the government banned real money gaming last year.
The Centre’s move resulted in real money gaming startups sacking hundreds of employees. Games24X7PokerBaazi, Head Digital Works, and Mobile Premier League are among the startups that laid off employees after the ban.
(The story will be updated soon)
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