REV Asia has changed its name and logo to Catcha Digital. According to the company, this switch marks a new beginning and direction for Catcha Digital and embodies Catcha Group’s active participation within the company’s day-to-day operations.
It is also in line with the Group’s goals to become a major player across all segments of digital businesses. Catcha Digital aims to accelerate its growth through expanding its digital operations, strategic digital investments and value-adding M&A.
Patrick Grove, director of Catcha Digital said that through its experiences co-founding iProperty, Frontier Digital Ventures and Malaysia’s latest unicorn, Carsome Group, it has learnt that big digital businesses can be built from the grounds of Malaysia. He added that the company has also learnt that partnering with great entrepreneurs can accelerate disruption and grow its business. “Hence, we aim to make the right investments and acquisitions with great leaders of digital businesses to grow Catcha Digital into the next digital behemoth in the public markets,” said Grove.
Larry Gan, chairman of Catcha Digital, added: “The digital media space is rapidly expanding as evidenced by the 20% growth in global digital ad spend in 2021, according to eMarketer, and the company is uniquely positioned to ride this wave. The internet economy in Southeast Asia was worth more than US$100 billion in 2020 and is still growing exponentially, according to Google’s e-Conomy report – this is a massive market that we will capitalise on - and the invaluable experience that Catcha brings to the table helps us in making a comeback to the arena once more.”
Catcha Digital said that its proposed acquisition of iMedia Asia last September is the foundation of its strategy. The acquisition is currently still pending Bursa Malaysia’s approval. This consortium would further strengthen Catcha Digital’s vision to become Southeast Asia’s leading tech platform.
Over the last 12 months, iMedia has confirmed six acquisitions, with the most recent being Favful earlier this month. The other five are namely OhMedia, Ittify, Goody25, BeautifulNara and Moretify. According to iMedia, the combined following of its network of owned and managed websites now reaches over 15 million Malaysians every month. Catcha Digital called this “a move that enabled iMedia to expand its reach across the various lines of the digital media, advertising and commerce space”.
iMedia also has video streaming partnerships with Viu, WeTV, and iflix. In September last year, iMedia entered a share sale agreement with Rev Asia, with the latter acquiring a 100% stake in iMedia for approximately RM40 million, subject to completion and approval from regulators.
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