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

iMedia has made 6 acquisitions in the past 12 months.


Alfred Lee

5 Jul, 2021

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

- From our Sponsors -

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.

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.

- From our Sponsors -

Latest Jobs

Software Engineer (Product, Design)

Coast

New York,

Full Time

USD 140000 — USD 200000 yearly

Product Intern (6 months)

Hypotenuse AI

Internship

Salary Undisclosed

AI Engineer

Fathom

Full Time

USD 130000 — USD 160000 yearly

Full Stack Engineer (India)

VectorShift

Full Time

USD 20000 — USD 30000 yearly

UX Product Designer

just words

California,

Contract

USD 50000 — USD 100000 yearly

Visual / Graphic Designer

CoinTracker

Contract

USD 75000 — USD 100000 yearly

Graphics Designer

Floworks

Karnataka,

Full Time

USD 800000 — USD 1200000 yearly

Founding Engineer

Clarion

New York,

Full Time

USD 110000 — USD 160000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).