REV Asia Bhd is returning to the digital media space — a segment it exited in 2017 when it sold its then core business to Media Prima Group Bhd — with ambitions of being a unicorn company.
“Our aim over the next four to five years is to make the company the first true consumer internet unicorn — in terms of ringgit — on Bursa,” Patrick Grove, director of Rev Asia, tells The Edge.
Its target valuation of RM1 billion is rather lofty, given Rev Asia’s current market capitalisation of a mere RM27.6 million.
It is also five times more than the RM187.15 million in market capitalisation — the highest ever — achieved in September 2014.
Given the tough operating environment and prolonged global uncertainty, how achievable is Rev Asia’s ambitious target?
The group believes it can be achieved through mergers and acquisitions (M&A).