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Malaysia's iMedia acquires 100% stake in Favful beauty e-commerce platform

iMedia has made 6 acquisitions in the past 12 months.


Malaysia's iMedia acquires 100% stake in Favful beauty e-commerce platform | BEAMSTART News

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iMedia, a digital media group from Malaysia, has just acquired beauty e-commerce platform and influencer marketing company, Favful.

iMedia's acquisition of Favful is the company's 6th acquisition over the past 12 months.

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Key Highlights

  • Catcha Group-backed iMedia has just acquired a 100% stake in Favful.
  • Upon the acquisition, all of Favful's social media and digital assets will be merged into iMedia's ecosystem.
  • iMedia was founded in July 2020, and currently provides a wide range of marketing services to larger brands.

Why It Matters

  • Besides Favful, iMedia acquired 5 other companies over the past 12 months: OhMedia, Ittify, Goody25, BeauitfulNara, and Moretify.
  • Favful on the other hand, has grown into a trusted community marketplace over the past 6 years, housing more than 3,000 beauty and lifestyle influencers with an estimated social media reach of more than 140 million people. 
  • According to iMedia, the acquisition is one of the company’s key strategies for growth, and the group's first entry into the commerce business. 
  • iMedia's network of digital assets now reaches over 15 million Malaysians every month, and is expected to generate $724,000 in net profit for 2021.

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ABOUT THE AUTHOR

Alfred Lee

Journalist at BEAMSTART. I write about breaking business news in the region.

Based in Malaysia

Works at BEAMSTART

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