Patrick Grove

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Patrick Grove
Patrick Grove Corporate Shot take in KL 2008.jpg
Born (1975-04-30) 30 April 1975 (age 40)
Occupation Co-founder & group CEO, Catcha Group
Co-founder & Chairman, iProperty Group (ASX:IPP)
Co-founder and Director, Rev Asia (0173)
Co-founder & Chairman, iCar Asia (ASX:ICQ),
Co-founder & Chairman, Ensogo (ASX:E88)
Co-founder & Chairman, iFLIX

Patrick Y-Kin Grove (born 30 April 1975) is an Australian Internet and new media entrepreneur and investor based in Asia.[1]

Grove is the co-founder and chief executive officer of Catcha Group,[2][3] and additionally serves as co-founder and Chairman of all of Catcha Group portfolio companies listed on the Australian Securities Exchange, including iProperty Group, iCar Asia and Ensogo. He is also co-founder and a director of Rev Asia, Bursa Malaysia-listed, online media and publishing company.

Between 1999 and 2013, he took all four companies he founded from start-up to initial public offering (IPO).

Grove is additionally co-founder and Chairman of Catcha Group's newest business, iflix, Southeast Asia's leading Internet TV service, launched in Malaysia and the Philippines in May 2015, with key Southeast Asian markets, including Thailand, Indonesia, and Vietnam to follow throughout the year.

His accolades include being named as one of Australia Unlimited: 50 Global Achievers by the Australian Trade Commission,[4] Asia's Best Young Entrepreneurs by Bloomberg Businessweek,[5] Top Entrepreneur under 40 by Business Week Asia,[6] and Global Leader of Tomorrow and New Asian Leader by the World Economic Forum[7] two years consecutively. He served as a judge, alongside Sir Richard Branson, and Steve Wozniak in the 2014 Talent Unleashed Awards,[8] and also on the judging panel for television series Angel's Gate which was broadcast on Channel NewsAsia in 2012.[9]


Whilst still a student at the University of Sydney in Australia, Grove started two companies, JDI (a night club promotions business) and Vibecom (a chain of mobile phone shops). Upon graduating in 1996, he joined Arthur Andersen[10] working in both the Corporate Recovery and Corporate Finance divisions before leaving in June 1999 to start the dot-com company In an article in Australia Unlimited, he is quoted as saying: "I wanted to start my own business whilst in college but my parents wouldn’t let me. We made a deal that I would finish university and work at Arthur Andersen for three years before I could do anything I want. I left after two-and-a-half years, as I couldn't resist the urge to move back to Asia to start Catcha."[11] quickly became a high-profile dot-com in Asia[12] and raised over US$12 million from a combination of angel investors, venture capitalists and publicly listed companies.[13] The company received approval in principle from the Stock Exchange of Singapore in early 2000. Whilst on a global IPO roadshow, the NASDAQ crashed in April 2000[14] and the IPO was famously aborted[15] as the company become a victim of the dot-com bubble.

With an aborted IPO, a collapsing media environment and US$1.5m in debt[16] bankruptcy seemed imminent, but Grove managed to turn the company around and is credited with being one of the rare dot-com survivors.

In 2001, Catcha launched a publishing arm which has since become one of the largest magazine publishers in Southeast Asia. The company is primarily based in Malaysia but also publishes in Singapore and Indonesia. Its portfolio of titles include JUICE, Hanger, MiNT, Fairways, Clive, Stuff, "Total Film" and Prestige.

By 2004–2005 Grove and his partners had turned around the business and completed a successful management buyout.[17]

In 2007, Grove moved back into the online space by acquiring He and his partners revamped and grew the business into the largest network of online property portals in Asia, operating in Malaysia, Indonesia, Singapore, Hong Kong and Macau with investments in India and the Philippines.[18] They successfully listed the company on the Australian Stock Exchange on 11 September 2007.[19] Since listing, the company has made a number of acquisitions including in Hong Kong and other portals in the region. In October 2013, the company crossed the MYR1 billion mark [US$330m] in market cap.[20] In March 2014, the company was added to the S&P/ASX 300, identifying it as one of the top 300 listed stocks on the ASX.[21]

In 2009, Catcha launched Catcha Digital in conjunction with Microsoft to run all their online assets in Malaysia.[22] In July 2011, Grove listed the company, then called Catcha Media Berhad on the Malaysian Stock Exchange. Following the merger between Catcha Media subsidiaries and Says Sdn Bhd, a new company, Rev Asia Media Equity Holdings Sdn Bhd was formed.[23] Catcha Media further announced in July 2014 that it had changed its name to Rev Asia Berhad.[24]

In September 2012, Grove listed the third company he founded, iCar Asia, on the Australian Securities Exchange.[25][26] iCar owns and operates ASEAN's largest network of online automotive sites in Malaysia, Indonesia and Thailand.[27] In March 2013, Australia's leading online cars classifieds Limited acquired a 19.9% seat in the company,[28] later increasing its shareholding in iCar Asia to 22.9% in March 2014.[29] The S&P Dow Jones Indices announced iCar's inclusion to the All Ordinaries Index on 21 March 2014.[30]

Grove had his fourth IPO with the listing of iBuy Group on the Australian Securities Exchange on 20 December 2013.[31] iBuy is the number one ranked e-commerce player in Southeast Asia.[32] In early 2014, iBuy Group acquired the Southeast Asia arm of LivingSocial spreading their reach to consumers in Indonesia, Thailand and the Philippines.[33]

Besides the four listed companies, Grove also controls a number of private companies including Catcha Ventures, a Venture Fund focused on investing in growth stage Internet companies in emerging markets globally, iflix, Southeast Asia's leading Internet TV service, launched in Malaysia and the Philippines in May 2014, and has additionally invested in Frontier Digital Ventures, a digital investment firm focusing on online classifieds in frontier and pre-emerging markets.[34]

In November 2014, Grove's net wealth was estimated to be AUD$344 million [35] and in May 2015, Grove was named to the BRW Rich 200 List, an annual list of the Richest People from Australia. [36]

Business strategy[edit]

Focusing on investments within the online sector, Patrick Grove has made his mark with a simple strategy: look at what works in the West and bring it to the East.[37] "When I was growing up and I looked at the wealthiest people in Asia, it was never anyone who invented anything. It was just someone who took an idea from the West and brought it to Asia ... I decided to do the same."

Specifically he has, through Catcha Group, targeted the emerging markets saying "I love emerging markets. If there’s a market anywhere in the world that’s emerging, I get it – it’s in my DNA.”[38] He is especially bullish about the business opportunities presented by Southeast Asia.[39]

Grove has gained a reputation and much respect for his perseverance, particularly in the face of adversity, and has spoken at various start-up and entrepreneur events such as Startup Grind and the regional Echelon.[40] He is quoted as saying "The things I have learnt about how to run a business can only be learnt in tough times," he says. "If you have been through [difficulty] before, you don't fear it. You just roll up your sleeves and get on with it."[41]

Television work[edit]

Grove served as one of the judges on the reality TV series Angel's Gate, which began broadcasting on Channel NewsAsia in February 2012.[42] The show gives budding entrepreneurs in Asia an opportunity to pitch business ideas to investors.


Among the awards and recognition Grove has received for his entrepreneurial achievements are:

  • 2000: Named a "Global Leader of Tomorrow" by the World Economic Forum[43]
  • 2002: Named a "New Asian Leader" by the World Economic Forum
  • 2004: "Austcham Young Entrepreneur of the Year"[44]
  • 2007: Recognised by KLue magazine among the "Top 40 under 40 to watch"
  • 2008: Named as one of "Asia's Best Young Entrepreneurs 2008" by Bloomberg Businessweek[45]
  • 2011-2014: Named on the "BRW Young Rich List", part of the annual BRW Rich 200[46][47]
  • 2013: Named in the Australia Unlimited "50 Global Achievers" list[48]
  • 2014: Judge in Talent Unleashed Awards, alongside Sir Richard Branson and Steve Wozniak.[49]

Early life and education[edit]

Grove spent his early years in Singapore and Indonesia, where he studied at Tanglin Trust School, the United World College of South East Asia[50] and the Jakarta International School. He moved to Sydney in 1993 and completed his high school education at the Scots College.

Grove then went on to the University of Sydney, where he majored in Finance and Accounting and completed a Bachelor of Commerce degree.

Personal life[edit]

Grove was born in Singapore on 30 April 1975 to a Singaporean-Chinese mother (Diana Grove) and an Australian father (Philip Grove). He has two brothers (Aaron and Daniel) and a sister (Nicole).


  1. ^ Young rich star Patrick Grove plans US$150m Asian investment expansion, "BRW", 1 April 2013
  2. ^ Catcha Media Corporate Site, Catcha Corporate Site,
  3. ^ IPGA Corporate Site, IPGA,
  4. ^ [1],"Australia Unlimited Global 50"
  5. ^ "Bloomberg Businessweek"
  6. ^ Asia's Best Young Entrepreneurs 2008, Bloomberg Businessweek, 8 August 2008
  7. ^ FT Profile, FT Markets
  8. ^ [2],"Catcha's Patrick Grove joins hunt for tech superstars"
  9. ^ So you want to be an entrepreneur?, "", 2 February 2012
  10. ^ Catcha Media Board of Directors
  11. ^ [3], "The Entrepreneur"
  12. ^ [4], " growing its presence in S E Asia"
  13. ^ Zdnet,,
  14. ^ Nasdaq Crash of April 2000, Nasdaq Crash of April 2000,
  15. ^ Shaky IPOs chill Singapore's Internet dreams, Asiaweek", 9 June 2000
  16. ^ Go go Grove, New Straits Times", 16 January 2005'
  17. ^ [5], "The Entrepreneur"
  18. ^ Catcha Group secures US$100m investment in portfolio company, "Yahoo News, July 31, 2014
  19. ^ Online Property Firm IPGA Debuts on ASX, Sydney Morning Herald", 11 September 2007'
  20. ^ [6], " crosses MYR 1 billion in market cap"
  21. ^ iProperty Shares Jump 13% as IPP Added to ASX 300, "Property Portal Watch", 10 March 2014
  22. ^ MSN Embraces Magazines in Malaysia, Asia Media Journal", 4 September 2009'
  23. ^ Catcha Media Berhad forms "Rev" Asia, "Catcha Media Corporate Site", 10 October 2013
  24. ^ Catcha Media Berhad is now Rev Asia Berhad, "Rev Asia Corporate Site" 4 July 2014
  25. ^ Catcha Media's iCar Lists On ASX, Asia Media Journal 4 September 2009
  26. ^ Patrick Grove about to get his Hattrick, digitalnewsasia, 24 August 2012
  27. ^ Catcha Group secures US$100m investment in portfolio company, "Business Insider", 31 July 2014
  28. ^ drives into Asia, "9 News Finance", 15 March 2013
  29. ^ Carsales moves to 22.9% of iCar Asia, "The Australian", 5 March 2014
  30. ^ S&P DJ Indices Announces March Quarterly Rebalance "S&P/Dow Jones Index Announcement", 7 March 2014
  31. ^ iBuy shares close 4pc above listing price, Australian Financial Review", 20 December 2013'
  32. ^ iBuy Group Ranked Number One E-Commerce Player in Southeast Asia, 'The Wall Street Journal", 23 June 2014'
  33. ^ [7], "LivingSocial pulls out of Southeast Asia with sale of its remaining regional business units"
  34. ^ [8], "Frontier Digital Ventures launched; acquires 30% stake in"
  35. ^ [9] "Young Rich 2014: 7. Patrick Grove"
  36. ^ [10], "Patrick Grove's journey from Young Rick to the main Rich List"
  37. ^ [11], "Catcha Group's Patrick Grove: reinventing Asia online"
  38. ^ [12], "Catcha Group's Patrick Grove: reinventing Asia online"
  39. ^ [13], "SE Asia is ripe for Australian technology investment"
  40. ^ [14], "Patrick Grove of Catcha Group shares the secret ingredients of a successful IPO"
  41. ^ [15], "Seizing the day and beyond"
  42. ^ So you want to be an entrepreneur?, "", 2 February 2012
  43. ^ FT Profile, FT Markets
  44. ^ Prestige Asia, Prestige
  45. ^ Asia's Best Young Entrepreneurs 2008, Bloomberg Businessweek, 8 August 2008
  46. ^ [16],"Tech Kings Dominate BRW Young Rich"
  47. ^ [17],"Young Rich List 2012"
  48. ^ [18],"Australia Unlimited Global 50"
  49. ^ [19],"Catcha's Patrick Grove joins hunt for tech superstars"

External links[edit]