iMedia, one of Malaysia’s leading integrated digital media groups, today announced it has acquired a controlling stake in Moretify, one of the leading Chinese Language portals in Malaysia. The acquisition goes in line with the company’s mission of becoming Malaysia’s number 1 integrated digital media group.
The acquisition of Moretify (www.moretify.com) is via Moretify Sdn Bhd. iMedia is at present the exclusive sales representation partner for Moretify and steps up as a major shareholder. It is responsible for the acceleration of all revenue across the websites and focus on building its branded content business, as well as introducing social selling as a new revenue platform. As part of the deal, all social media assets from the company will be fully merged into iMedia’s ecosystem.
iMedia has been moving at lightning speed in the last 100 days, by confirming 5 acquisitions. Over the last 3 and a half months, iMedia also announced the acquisition of OhMedia, Ittify, Goody25, BeautifulNara and Moretify. The iMedia network of owned and managed websites now reaches over 15m Malaysians every month.
On top of the acquisition, iMedia also announced it has signed an Exclusive Representation Agreement with Iluminasi (www.iluminasi.com) to take over its advertising sales; with a primary focus on accelerating revenue across branded content, video and display advertising. Iluminasi was launched in 2017, and is Malaysia’s No.1 go to source for informative and intellectual content in Bahasa Malaysia; focusing on well-researched content to educate readers. The website reaches out monthly to an average of 1.62m users and generates an average of 5.2m pageviews as tracked by Google Analytics.
iMedia is still on track to complete its IPO on Bursa Malaysia via its own 100% acquisition by Rev Asia Berhad, currently listed on Bursa Malaysia for approximately RM40m. Upon approval by regulators and shareholders, the Moretify acquisition will be part of iMedia’s move to Bursa Malaysia.
Moretify is a leading Chinese language Social news media and content website that primarily focuses on the latest and trendiest news on the local entertainment and lifestyle scene, as well as top stories on celebrities, food, technology and travel. Launched in 2017, it has grown into a prominent brand and source for many visitors from Malaysia and across the region. Moretify have a strong social following with over 355k followers on Facebook and Instagram combined. According to Google Analytics, Moretify recorded an average of 3.1 million-page views and over 800k users per month in year 2020 (based on GA’s January to October data).
Terrence Loh, Managing Director and Founder of Moretify, said: “First of all, I would like to express our gratitude and thanks to Moretify’s users and clients for their long-time support. We look forward to working closely and expanding our influence further with iMedia."
Voon Tze Khay, Chief Executive Officer and Co-founder of iMedia, said: “We are excited with the prospects of Moretify and the synergies of working with Terrence and his team. This acquisition will further strengthen the company’s dominant position in the Chinese language content network in Malaysia and our reach to the overall Chinese urban youth speaking online community. The newly combined Chinese network (with Goody25) reaches out to approximately 3.5m monthly users with close to 14m pageviews visited each month. This positions the iMedia Chinese network as one of the largest in the country when it comes to the young Chinese speaking millennial audience.
iMedia — Malaysia’s fast-growing integrated digital media group with a combined following of over 15 million visitors across its websites, social platforms and influencer network — has an extensive portfolio of popular online brands and premium video streaming partnerships which include OhMedia, Ittify, Goody25, GoodyMy, BeautifulNara, Amazing Nara, Kimchi Daily, Moretify, Iluminasi, Viu, WeTV, iflix, Newswav, Malaysia Gazette and Oriental Daily Online.