Dubbed as Asia's answer to U.S. video streaming company Netflix, iflix has yet to debut its service but its founder is confident that the new startup will trigger a shake-up in the industry.
"Our 'BHAG' (Big hairy audacious goal) is for iflix to be the first serious, credible and sizable ASEAN internet company that is floated on the Nasdaq, which we love to do in the next 12-24 months," Patrick Grove, co-founder and CEO of Kuala Lumpur-based tech investment firm Catcha Group, told CNBC's "Managing Asia."
The video-on-demand service debuts in Malaysia next month and will likely feature popular Hollywood content from Warner Bros and MGM, according to The Australian. iflix will also bulk up its collection with Asian programs, ranging from Cantonese-language Hong Kong dramas to South Korean hit series, in order to compete head-on with its bigger and more established rivals.
Grove has plans to expand iflix into other parts of Southeast Asia over the next 3-6 months and is betting big on the region's booming smartphone usage, which could hit 700 million by 2019, according to a report by Ericsson last June.
"One of the things we love about Southeast Asia is that it's now a bigger market than America. 700 million people here want to be entertained on their phones, but there are only 280 million people in America," the Singapore-born entrepreneur said. "Netflix can be the pre-eminent product in the developed world and iflix will be the equivalent in the developing world over the next two years."