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Zupee: Business Overview, Financials & Competitive Analysis

Zupee is an online skill-based gaming company whose flagship game is Ludo, with the platform hosting over 150 million users. As one of India's top online gaming apps, Zupee offers Ludo, Snakes & Ladders, Carrom, Hand ...

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What's in This Report
Zupee OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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7/ 10Solid

Cyborg Score thesis

Market-leading skill-based gaming platform with strong user engagement and technology stack, but facing regulatory headwinds that...

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Industry Skill-based online gaming / Mobile gaming
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: June 29, 2026
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Zupee Overview

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Zupee is an online skill-based gaming company whose flagship game is Ludo, with the platform hosting over 150 million users. As one of India's top online gaming apps, Zupee offers Ludo, Snakes & Ladders, Carrom, Hand Cricket and more skill games on mobile or desktop. Zupee is one of the fastest growing Indian online gaming companies with 95% market share in the Indian gaming sector's largest sector – casual & boardgame segment.

Strategic Profile

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Zupee became the pioneer of skill-based Ludo gaming in India by introducing faster formats and move-based scoring, turning a passive experience into one that rewards skill-based play. Leveraging cutting-edge technology, Zupee has integrated blockchain into its platform to ensure fair and tamper-proof outcomes, enhancing game integrity and building user trust. As per The Promotion and Regulation of Online Gaming Bill, 2025, cash games and contests have been discontinued on Zupee as of August 2025.

Competitive Landscape

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Zupee competes alongside major operators including Games24x7, MPL, and Dream11 in India's skill-based gaming segment. The competitive landscape has consolidated around free-to-play and tournament-based models following regulatory changes in August 2025. Zupee's dominant 95% market share in casual/boardgame titles provides substantial competitive moat despite the shift away from real-money gaming.

Industry Context

Zupee operates in Skill-based online gaming / Mobile gaming.

Key facts

Founded: 2018 · Headquarters: Bangalore, India · Employees: 500+

What the analysts stress-tested

The top findings that survived the multi-agent debate for Zupee.

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Recent developments

Material events tracked by the AskCyborg corpus.

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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Games24x7Multi-game skill gaming platformMPL (Mobile Premier League)Casual & esports skill gaming platformDream11Fantasy sports skill gaming platform

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Industry context

Zupee operates in Skill-based online gaming / Mobile gaming. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Zupee do?+
Zupee is an online skill-based gaming company whose flagship game is Ludo, with the platform hosting over 150 million users. As one of India's top online gaming apps, Zupee offers Ludo, Snakes & Ladders, Carrom, Hand ...
What is Zupee's Cyborg Score?+
Zupee has a Cyborg Score of 7/10 (Solid). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Zupee's main competitors?+
Named competitors include Games24x7, MPL (Mobile Premier League), Dream11. The full competitive landscape is in the AskCyborg report.
How can I get the full Zupee research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Zupee research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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