VIETNAM ICT REVIEW 2014 BY MOG

B y
VIETNAM INTERNET 2014
REVIEW31-Dec-2014

CyberAgent Ventures invested in DKT, an Internet company based in Hanoi which
provides Bizweb, an e-commerce online service to allow retail stores starting and
managing their online sales. The founder, Mr Tuyen, born 1982, has been co-
founder of Bao Kim before founding DKT.
https://www.techinasia.com/
Jan 2014

http://www.forbes.com/
Feb 2014
Flappy Bird, a casual mobile game developed by Vietnamese indie developer
quickly rose to a top hit in America and then in global. The popularity of Flappy Bird
brought a lot of ads money, fame and also trouble to its creator Ha Dong.
Eventually, he decided to take down the title from all Apple and Google stores.

http://vitalk.vn/
Also in Feb 2014
The competition of OTT apps got intensified with the joining of BeeTalk from
Garena. Adding to the existing competition in client PC games, internet coffee
management system, the fight between VNG and Garena expand to all battle
fronts.

http://vitalk.vn/
March 2014
The mobile messaging app Zalo by VNG is reported to reach 10M registered
users milestone.

http://www.cyberagentventures.com/
Also in March 2014
CyberAgent Ventures invested in Dai Viet, an Internet company based in Hanoi
which owns and operates the largest real estate online listing site
batdongsan.com.vn in Vietnam. The deal is not publicly announced yet but the info
can be found in portfolio list from CyberAgent Ventures website. Also, in Q1/2014,
CyberAgent Ventures put money into two early startups, online English learning
Topica English, a subsidiary of Topica and Vexere, an online bus booking website.

http://www.vcpost.com/
Yet also in March 2013
SeeSpace, a startup founded by Nam Do - a Vietnam-born entrepreneur
successfully raised $158K as seed money for their product InAir via the crowd-
funding site Kickstarer.com. When connected to the TV, InAir provides users
navigable related contents on the same TV screen. SeeSpace is incorporated in US
but the whole developers team are in Vietnam.

http://www.sggp.org.vn/khoahoc_congnghe/
Still in March 2013
The internet connection from Vietnam to overseas has been temporarily stopped,
severely slowdown for days due to the broken of the internet optic cable
connecting Vietnam to Hong Kong which operated by AAG. Similar incidents later
occurred again in July and September. One line of cable lead to one-point-of-failure
and vulnerability. It is vital for services which target Vietnam local Internet users to
place their servers placed domestically.

ttp://ictnews.vn/
April 2014
Mr Dinh Anh Huan resigned from CEO of dienmay.com to join the management
board of the last-mile delivery company Giaohangnhanh. Mr Huan is known to be a
co-founder of thegioididong, angel investors and active advisors to many retail and
online companies including Tiki.vn, Concung.vn and also Giaohangnhanh.

May 2014
CocCoc released Corom+ and entered the browser war in Vietnam. The company is
hugely financed by a group of Russian investors. Up to the point, their core product
is the search engine, CocCoc.vn which has been finely customized for Vietnam
market. Even though heavily promoted, CocCoc failed to gain its standing in
Vietnam. Corom+ provides better support for Vietnamese language input, easier
access to Facebook, download video from YouTube…

http://cafebiz.vn/
June 2014
Thegioididong was IPO in Ho Chi Minh Stock market (HOSE) with the code MWG.
MWG holds the ownership of 79.95% in the mobile retail chain “thegioididong.com”
and 79.95% in electronic retail chain “dienmay.com”. After 10 years, MWG has grown
from 1 retail store to 232 stores and took more than 23% of mobile devices sales
market shares. Their online sales in 2013 is about $22M, account for 4.5% of total.

https://news.appsync.vn/
Also in July 2014
AppSync PC version for mobile store, is officially launched by mWork Corporation.
AppSync helps mobile stores reduce time managing and installing application for mobile
buyers. Prior to official launching, AppSync has been deployed in more than 1000 stores
in 6 months for market test and refining. AppSync now takes about 25% of market
shares and also has PC version for end-user.

http://ictnews.vn/kinh-doanh/
Yet also in July 2014
The online market place 123mua.vn of VNG is acquired by Sendo, a subsidiary of
FPT, also works as an online market place business at sendo.vn. The price is not
officially announced. VNG admitted its failure in EC with 123mua but it is likely that
VNG will reenter the market from different angle.

http://ictnews.vn/khoi-nghiep/
August 2014
ADATAO, a big data solution provider startup with the co-founder, Mr Christopher
Nguyen born in Vietnam receive lucrative investment of $12M as Serie A round
from the famous venture fund Andreessen Horowitz. ADATAO has a large number
of engineers who are local and base in Ho Chi Minh City.

http://ictnews.vn/khoi-nghiep/
Also in August 2014
“Bat Chu”, a mobile word guessing game by WePlay boomed in Vietnam. The
games get to the mobiles of millions of users. There are many copy cats after that
but still the versions of WePlay are highly praised and remembered.

http://www.vietnamplus.vn/
September 2014
mPos.vn appeared in Vietnam as a mobile card reader which accepts even domestic
ATM cards. There are about 60M domestic ATM cards issued in Vietnam. mPOS
Vietnam and Sacombank were the first to provide this service.

Also in September 2014
Xiaomi, the “Apple of China” invested $40M in the US based startup Misfit. The
husband and wife, Mr. Sonny Vu and Christ are Vietnam-born, co-founded Misfit.
Most of the team based in Vietnam, involve production, data analyst, marketing and
sales operation.

http://dietthan.vn/
Diet Than (aka Wrath of God), a trading card battle game, 100% Made-in-Vietnam is
published by Wasabi to Viet Nam market. Diet Than is highly praised for its high
quality level of game design, graphics and storyline and told to comparable with top-
level games made by China and Japan. Diet Than has been developed by TOFU Game
Studio during the course of 6 months with 20 members. With the release of Diet
Than, it marks a new milestone for Vietnam mobile game industry.
Yet also in September 2014

October 2014
Tokopedia, a market place founded in 2009 in Indonesia, received a US$100 million
financing led by SoftBank Internet and Media Inc (SIMI), a division of the Softbank
Group and also Sequoia Capital joined in as a follow on investor. It is also the first
investment of Sequoia Capital in the region. The investment confirms that the tech
investment money are now pouring more and more to emerging markets such as
South East Asia. With a population ranked in top 20 of the world, young age
demographic, Vietnam is definitely on the list.

http://www.talkvietnam.com/
Also in October 2014
Media websites and online services owned and operated by VC Corp, the largest
online media company in Vietnam have been down for days due to a series of attacks
into the company data centers. The damage is huge as it results in discontinuing of
service, leak or loss of users and customer database. The attacks are considered to be
well planned, orchestrated and conducted by a group of professional hackers. This
incident alarm companies to raise their aware and investment on security.

Yet also in Oct 2014
The first batch with 9 startups graduated from Vietnam Silicon Valley program.
Vietnam Silicon Valley is a 4-month incubation program, powered by Vietnam
Ministry of Science and Technology, where each start-up with receive mentorship,
helped with connection and also receive $10K in exchange for 10% of equity.

Yet yet also in Oct 2014
Shortly after acquired by 24H Media, haivl.com, a 9gag-liked website in Vietnam with
more than 20M monthly visitors has been banned by the Vietnamese authority. They
are accused of hosting and propagating non-appropriate content. Their issued social
network license was also taken back. After this incident, websites hosting users
generated contents, social media are at a huge risk.

http://infogame.vn/game-mobile/
Nov 2014
FPT Online closed it online game business line and also sell out it online payment
Gate.vn to ME Corp, an mobile game publishing company. The decision made is a
result of increasingly competition in PC games and losing out of key members. A
consolidation in PC online games can be expected to happen soon.

http://coccoc.com/en/news/
Also in Nov 2014
Cờ Rôm+ announced that after 6 months of launching, it had 11M downloads and
1M monthly daily active users, accounts for 6.4% PC browser market share in
Vietnam, only after Chrome and IE. This impressive growth bring CocCoc back to the
game with a stable ads revenue stream.

http://techcrunch.com/
Yet also in Nov 2014
Lazada, the Amazon-clone in South East Asia raised $250M of investment in a round
led by Temasek Holdings at valuation of about $1.25B. Lazada operates in 6 countries
in SEA, including Vietnam. According to the CEO, Lazada still need to burn money as
EC in SEA is still at early stage. In total, Lazada has raised $700M from investors. Given
with their cash strength, other EC B2C companies in Vietnam are really put in very
disadvantage position.

http://vietnamnews.vn/economy/
Also in Dec 2014
Three Japanese enterprises, SBI Holdings, Econtext and BEENOS jointly invested in
Sendo, a subsidiary of FPT Corporation, recently to get a 33% in it with a valuation is
about $10M. Sendo founded in March 2012, provides nearly 2M products with
70,000 stores on 2 websites sendo.vn and 123mua.vn acquired from VNG.

http://asia.nikkei.com/Business/
Yet also in Dec 2014
After entering Vietnam, Uber faced strong opposing raised by local taxi companies
on their legal status and accountability. There were contradicting views from
Vietnam authority but finally it seems to come to a solution. Uber can operate in
Vietnam if they fulfill their tax responsibilities which is counted as 5% of their
revenue generated from Vietnam.

http://gimi.vn
Still in Dec 2014
GIMI, the first mobile reward platform in Vietnam is released by mWork Corp. It closed
a well performed year for the company.

• Obtained bachelor and MA in Computer
Sciences from Kyoto University, Japan
• Worked as Venture Capitalist in CyberAgent
Ventures, based in Hanoi
• Technology and Internet savvy
• Love gyms, marathon, swimming, SNS
Andy Nguyen, Mwork Corp
Co-founder, VP of Investment
Email: andy@mwork.vn
Website: http://mog.vn
A little bit about me

I wish you a new year of 2015 with
full of LOVE, energy and luck!!!

VIETNAM ICT REVIEW 2014 BY MOG

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VIETNAM ICT REVIEW 2014 BY MOG