Catcha Group aims to float its upcoming Netflix clone on Nasdaq

Visual from Catch Group backed iflix.com

Catcha Group has set itself a goal to list its upcoming video-on-demand service, iflix, on Nasdaq in the next twelve to 24 months. The company has not revealed any valuations for  iflix.

The company plans to launch this service, touted as the Asian answer to American video-streaming company Netflix, some time next month, and co-founder and CEO Patrick Grove has verbalised a target to position iflix as “the first serious, credible and sizable Asean internet company to be floated on the Nasdaq”.

The Singapore-born Grove was quoted in CNBC’s Managing Asia’s feature programme.

iflix will likely feature popular Hollywood content from Warner Bros and MGM.

Aside from Western programmes, iflix will also bulk up its collection with Asian programmes, ranging from Cantonese-language Hong Kong dramas to South Korean hit series, in order to compete head-on with its bigger and more established rivals, it was reported.

Grove plans to expand iflix into other parts of Southeast Asia over the next three to six months and is betting big on the region’s booming smartphone usage, which could hit 700 million by 2019, according to a report.

“One of the things we love about Southeast Asia is that it’s now a bigger market than America. 700 million people here want to be entertained on their phones, but there are only 280 million people in America,” the entrepreneur-investor said. “Netflix can be the pre-eminent product in the developed world and iflix will be the equivalent in the developing world over the next two years.”

The Kuala Lumpur-based tech investment firm is also looking to cultivate some startup under Catcha Ventures, which was set up in October last year.

Catcha Ventures has completed seven investments, ranging from $1 to $5 million each, in Pakistan and Myanmar. Some of its investments were completed under Frontier Digital Ventures, which identifies online classifieds businesses within frontier markets to invest in.

Grove and Catcha Group executive director Luke Elliott are listed as the investors in Frontier Digital Ventures.

Grove said the venture firm’s focus is on new media, technology and mobile companies with the potential to penetrate into emerging markets.

“If there is a category where the existing players are lazy, then we want to be there. We want to shake things up. We want to be the trouble-maker. We want to be the disruptor.”

 

Also read:

Catcha’s VC arm to invest up to $100m in SEA

Malaysia: A strategic hub for expanding in SEA

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.