Mark Britt, co-founder and CEO of Kuala Lumpur-headquartered digital video streaming platform iFlix, has reportedly stepped down from his position after over five years with the company, Marketing Interactive reports.
Britt explained on a post on his LinkedIn profile that he wants to devote more time to his family after spending the past half-decade commuting between Asia and Sydney. Britt will continue with the company and will be joining the board as an executive director.
iFlix’s managing director Marc Barnett will be taking the helm to lead the firm. Barnett started his career at iFlix in October 2016 as chief of staff and was later promoted to chief operating officer in January 2017. He then took the role of managing director in November 2019.
iFlix was founded in 2014 by Mark Britt and Patrick Grove. The company has raised a total of USD 348 million in funding over eight rounds. Iflix’s latest funding, in July 2019, exceded USD 50 million, led by Fidelity International and Yoshimoto Kogyo.
Iflix’s service is available in 13 countries across Asia. The firm sold its African business in December 2018 to focus on core Asian markets such as Indonesia, Malaysia, and the Philippines, where it has two main competitors, HOOQ and Netflix.
The company is touted to become Malaysia’s first unicorn as it is currently close to a USD 1 billion valuation.
