By Susan Cunningham
(This story appears in the March 2017 issue of Forbes Asia).
Patrick Y-Kin Grove is leaning against the pool table in Catcha Group’s headquarters in the Mid Valley mall-lands of Kuala Lumpur. The Internet pioneer has started company after company, but today he’s doing something different–he’s plugging a local tailor shop. “I’ve worn a suit twice in the past five years,” he jokes in his raspy voice as staffers look on. “To get married … and divorced.”
He was getting an award at a gala dinner that night, but he had left his only suit at his second home in Singapore. A call to the tailor produced an offer: Tape a promotional video for the shop and a bespoke suit would be his for free. So here he was, being asked by a cameraman to describe himself. “I’m proudly from Southeast Asia,” Grove says. “I split my life into two halves: before 24 years old and everything after–when I became an entrepreneur.” And his life goal? “I want to create a great company that goes global and disrupts an entire industry.”
The company is two-year-old Iflix. The industry is subscription video-on-demand. Grove is targeting developing countries, and Iflix, part of his Catcha Group, is now operating in Malaysia, Indonesia, Thailand, the Philippines and elsewhere. Iflix offers unlimited viewing of 20,000 hours’ worth of movies and television shows, available any time of day, for a monthly fee roughly equal to the price of a pirated DVD. That’s usually between $2 and $3, depending on the country. The content comes from more than 100 studios and distributors, including Disney, Paramount, the BBC and Media Prima, and MORE