50% of Carlist is acquired by Catcha Media Berhad

As Catcha Media Bhd is looking to become an internet conglomerate again and it’s recent acquisition of a decisive 50 per cent stake in car portal, Carlist.my would make this a reality. Carlist was founded on the basis there are a lot of stale cars listed on most traditional sites. It currently boast a total of over 43 thousands car listings.

The 50% stake was purchased for an undisclosed stake but speculation hovers around RM 5 Million with Carlist valued at RM 10 Million. As a comparison, Proto Corporation (Japan) acquisition of MTM Multimedia, the publisher of titles such as Motor Trader, Bike Trader and Autocar ASEAN was around RM109.67 million.

Catcha Media Berhad (“Catcha Media”) announced today its results for Q3 2011, with revenue increasing by 20% as compared to Q3 2010. The announcement coincided with changes in the company’s management, where founder and non-executive director, Mr Patrick Grove, will assume the role of CEO.