Bitsmedia Pte. Ltd.
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Bitsmedia Pte. Ltd. - overview
Established
2009
Location
Singapore, -, Singapore
Primary Industry
Internet
About
Bitsmedia Pte. Ltd. , based in Singapore, specializes in developing digital applications and platforms that serve the global Muslim community, enhancing their lifestyle and spiritual engagement through technology. Founded in 2009 in Singapore, Bitsmedia Pte.
Ltd. focuses on creating mobile applications for the Muslim population. The company has conducted 2 deals, with the most recent deal occurring on December 12, 2022. The founders include Ahnaf Rahman, Mark MBCS, Mirza Baig, and Shanmuka Balakrishnan, while Andy Melo serves as the CEO.
In December 2022, Bintang Capital Partners and CMIA Capital Partners led the acquisition of Bitsmedia Holdings Limited, with financial terms undisclosed, and the funding has been aimed at supporting the launch of their new service, Qalbox. Bitsmedia Pte Ltd primarily offers the Muslim Pro app and the Qalbox streaming service, designed for the global Muslim community. The Muslim Pro app, initiated in 2010, is the most popular Muslim lifestyle application, providing prayer times, Quranic readings, and personalized content. In July 2022, the Qalbox streaming service was launched to provide a subscription-based video platform showcasing diverse Muslim identities and cultures.
Together, these services cater to over 170 million users worldwide, primarily in Southeast Asian countries, including Malaysia and Indonesia. In the most recent year, Bitsmedia reported a revenue of USD 8. 27 mn, with an EBITDA of USD -4. 43 mn.
The company generates revenue through subscription services in the Muslim Pro app and Qalbox, offering premium features and content to users, which supports a business-to-consumer model. Bitsmedia plans to leverage recent funding to enhance its offerings, particularly focusing on the Qalbox platform. This includes the launch of new products and expanding into additional markets. Specific strategies and timelines will be shaped by the financial backing received from the December 2022 acquisition, facilitating the growth of Qalbox to reach a broader audience within the Muslim diaspora.
Current Investors
CMIA Capital Partners, Bintang Capital Partners, MainStreet Work, Inc.
Primary Industry
Internet
Sub Industries
Web Applications
Website
www.bitsmedia.com
Verticals
Mobile Apps
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Bitsmedia Pte. Ltd. - timeline of key events
Bitsmedia Pte. Ltd. - financials
| Fiscal Year Ended | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 1,778,552 | 1,035,208 | 1,726,162 | 3,325,168 | 4,712,743 | 8,474,387 | 14,039,475 | - | - | - |
| % Revenue Growth (YoY) | - | (41.8%) | 66.7% | 92.6% | 41.7% | 79.8% | 65.7% | - | - | - |
| EBITDA (USD) | 236,639 | (276,463) | (242,636) | 183,082 | 969,553 | 3,031,132 | 2,651,860 | - | - | - |
| Operating Income (USD) | 185,444 | (331,646) | (276,593) | 152,135 | 760,680 | 2,123,108 | 1,370,763 | - | - | - |
| Operating Margin | 10.4% | (32.0%) | (16.0%) | 4.6% | 16.1% | 25.1% | 9.8% | - | - | - |
| % EBITDA Margin | 13.3% | (26.7%) | (14.1%) | 5.5% | 20.6% | 35.8% | 18.9% | - | - | - |
| NET Income (USD) | 178,748 | (331,646) | (297,094) | 152,135 | 469,902 | 2,121,985 | 1,201,026 | - | - | - |
| % Net Margin | 10.1% | (32.0%) | (17.2%) | 4.6% | 10.0% | 25.0% | 8.6% | - | - | - |
Bitsmedia Pte. Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Buyout | Completed | Bitsmedia Pte. Ltd. | - | ||||||||
| Buyout | Completed | Bitsmedia Pte. Ltd. | - |
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Bitsmedia Pte. Ltd. - employee data
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