Fox companies Good Foodie Media and Involve Asia are driving the MarTech industry forward

• MarTech-driven e-commerce projected to hit US$7.88B by end-2024
• Both companies are driving sector growth through MDEC’s FOX Programme

The digital economy landscape continues to transform, fuelled by the increasing integration of technology across diverse sectors to stay on top. With Malaysia’s aim for the digital economy to contribute  25.5% to the nation’s GDP by the end of 2025, it underscores the crucial role of businesses including marketing technology (MarTech) and digital creative content in driving this upward trajectory.

The digital creative content segment alone generated an impressive US$1.2 billion (RM5.6 billion) in 2021 and the ecommerce sector, driven by MarTech, is expected to reach US$ 7.88 billion (RM35.2 billion) by the end of the year.

Growth of these crucial digital economy segments is enabled via the Malaysia Digital (MD) national strategic initiative by the Malaysia Digital Economy Corporation (MDEC), which provides a myriad of enabling incentives for Malaysian businesses and Rakyat to play a leading role in the global digital revolution and digital economy.

Guided by the MD initiative, MDEC has also introduced the Founders Centre of Excellence (FOX) programme, which is a bespoke programme for selected companies which showcase high-growth growth with the potential to become the next scaleup tech icons. MDEC has identified key MarTech industry players like MD status companies Good Foodie Media and Involve Asia who are at the forefront of this digital revolution, leveraging their expertise to shape and drive the digital landscape.

The digital economy is creative

The rise in content creation during the pandemic presented new opportunities for collaboration with emerging creators. Good Foodie Media, a media company specialising in food and culinary digital content, has leveraged this synergy to help brands market their products through diversified approaches that involve both publishers and content creators. The pandemic further amplified consumer reliance on digital connectivity, boosting Good Foodie Media's recognition as a trusted source of quality content.

“Our advertising segment was affected during the pandemic when there were movement control orders. We learned to pivot and introduced affiliate marketing across our platforms. By doing this, we successfully increased our revenue and stayed afloat during the difficult period. This has taught us to innovate using our existing resources when faced with challenges,” shares Nicholas Lim Pinn Yang, co-founder and CEO of Good Foodie Media.

The platform that seamlessly integrates content with commerce has gained mass traction by successfully aligning with local consumer behaviour in the food and beverage sector.

Since being founded in 2017 by Lim and joined by several other co-founders the following year, the platform saw significant success over the years. Growing from a fan base of 1,000 that focused on the Penang culinary scene to over 30 million subscribers today, they expanded into Kuala Lumpur after receiving their first funding from an angel investor.

“This opened doors for us to expand into Johor as we were able to quickly go up the ranks with the significant traction amassed. We then diversified our platforms to other verticals to cater to audiences in various consumer needs – Halal Foodie, Bangkok Foodie, ChiHou and MalaysiaHomie to name a few,” he adds.

“As part of our strategic pivot, we're focused on developing a tech platform that seamlessly combines content and commerce, with the aim of streamlining local consumer behavior in the F&B space. With our 30 million-strong captive audience, we see this as a key opportunity to create an integrated experience that enhances engagement and drives growth in this sector,” Lim said.

In 2024, Good Foodie Media partnered with Funding Societies for the first installment marketing plan aimed at supporting SMEs and later in the year, launched the Foodie Hawker Awards in collaboration with Maybank and PayNet. To date, Good Foodie Media has aided over 15,000 MSME.

In the same year, Good Foodie Media was awarded the MD status by MDEC proving to be a key player in the nation’s digital economy.

Riding the wave of the digital media industry

Involve Asia, the leading affiliate marketing and partner management platform in Southeast Asia within the FOX programme, has revolutionised how brands and advertisers connect with publishers and influencers to drive performance-based marketing campaigns. The platform has empowered over 500 brands to reach millions of consumers through its network of 400,000 affiliate partners, driving a total transaction value of over US$1.5 billion (RM6.7 billion) since its establishment a decade ago.

“What sets Involve Asia apart is its commitment to transparency, performance tracking, and data-driven insights, making it a trusted partner for businesses looking to expand their digital footprint across the region,” says Rene Menezes, president and co-founder of Involve Asia.

Backed by prominent venture capital and private equity firms like 500 Startups, OSK Technology Ventures, and Bintang Capital Partners, the company has established a strong presence across Asia, with offices across six countries including Malaysia, Indonesia, and Thailand.

Last year alone, Involve Asia raised over US$10 million (RM44.6 million) in funding to fuel its expansion and product development. The company's impressive performance led to a 150% annualised growth rate from its early stages to pre-IPO profitability.

Involve Asia has effectively harnessed the power of MarTech to fuel its growth and drive innovation in digital marketing. By integrating advanced tools, Involve Asia optimises campaign management, enabling precise targeting and real-time performance analytics. These capabilities have allowed the company to execute successful strategies, including data-driven influencer marketing campaigns and highly personalised affiliate programmes, which have consistently delivered high ROI for their clients.

Their innovative approaches and strategic use of technology have not only empowered thousands of SMEs but also set new standards in the landscape. The digital creative industry and MarTech segment are not just growth drivers, they are catalysts for a more inclusive and robust digital economy. Through strategic support via MDEC, these businesses are unlocking the full potential of these sectors, ensuring sustainable economic progress across the board. 

As they continue to embrace and evolve with the latest advancements in MarTech and digital content, these companies are poised to remain at the forefront of the digital economy, fostering growth and enabling businesses to thrive in an increasingly competitive and digitally connected world.

MDEC offers various programmes for Malaysia Digital status companies. Apply for Malaysia Digital status here.