2020 is do-or-die for Malaysia-headquartered iflix. Desperately in need of fresh investments, the video-on-demand startup that once aimed to be the Netflix of Southeast Asia, is now running on fumes. A proposed , scheduled to take place in , is still on hold. Increasingly, it seems unlikely it ever will come to be for iflix….
Time runs out as iflix’s ghost ship starts sinking
A down round. Loss of senior leadership. Layoffs. iflix, a once promising Netflix successor in Southeast Asia, is going under water. It's now up to co-founder Patrick Grove, “the king of tech IPOs” in Southeast Asia, to throw it a lifeline
Iflix may be Grove’s Catcha Group’s most ambitious venture, but the company is staring at major money trouble
To date, the startup has yet to file its financial report for 2019. Its current runway may be under a year
Due to COVID-19, stock markets in Asia are plunging, including the Australian Securities Exchange (ASX) which may dampen iflix’s IPO plan
For serial entrepreneur Grove, although failure may not see like an option, he’s running against the clock with iflix