Similar to startup enterprises, domestic online booking application Vntrip.vn, despite suffering huge losses in the past two years, has been receiving a large number of investments. Vntrip.vn has repeatedly received investment from foreign investors. Source: zing.vn In the past two years, Vntrip.vn recorded accumulated losses of VND100 million ($4,424), while its charter capital as of the end of 2017 was VND137 million ($6,061). However, this may not be important as the firm has been constantly receiving foreign investment. The booking application has just announced successfully calling for investment from Swiss-based real estate firm IHAG Holding. While the value of the investment was not disclosed, the Swiss investor assessed the firm’s value at $44.2 million. Previously, Vntrip.vn also received investment from two foreign investors. Accordingly, Hong Kong-based Hendale Capital poured $10 million into the domestic firm. In 2016, when the business was started, … [Read more...] about Online booking firm Vntrip.vn repeats story of e commerce startups
Successful e commerce startups
Vietnam’s e-commerce websites are still receiving heavy investment to develop despite big losses, but when will these projects stop losing? The Vietnamese e-commerce market is one of the leading markets in the region for investment. According to Nielsen, the annual growth speed of the e-commerce market is 22% and is expected to hit US$10 billion in annual revenue by 2022 from the current US$4 billion. The Vietnamese e-commerce market shows huge potential for development and receives great attention from new investors. In a recent report by Topica Founder Institute, e-commerce attracted US$83 million of foreign investment through 21 deals. Startup SEA (used to be Garena, which was termed as a unicorn in Asia), ranked first among investors pouring capital into Vietnamese startups in 2017. SEA spent US$64 million acquiring 82% of the shares in Foody, a food delivery website and app. CyberAgent Ventures, a Japanese venture investment fund, continues its activities in Vietnam. In … [Read more...] about When will Vietnam’s e-commerce players stop “burning money”?
Vietnam’s startup ecosystem is on the radar of Japanese firms wishing to co-operate with Vietnamese startups and calling for capital from Japan’s funds to develop novel ideas. Several Japanese firms are looking to broker co-operation deals with Vietnamese startups Hiroyuki Ono, partner of Japan’s ACA Investments Pte Ltd., came to Hanoi last week in search of opportunities to co-operate with local startups and enterprises which ambitiously turn novel ideas into successful businesses.ACA Investments is specialised in managing investment funds of listed companies in specific industries and offering investment-related services such as advisory services for mergers and acquisitions.“ACA Investments has invested in four firms in Vietnam and we are looking for more to expand our presence in the country,” Ono said. The four firms are Viet Thanh Technology Corporation (invested in March 2014), Cat Dong Trading and Service JSC (March 2015), BBM Investment JSC … [Read more...] about Japan eyes Vietnamese IT startups
VietNamNet Bridge - Shopee, theleading e-commerce platform in Southeast Asia and Taiwan, has become the mostpopular shopping application in Vietnam after one year of launching. Mr. PineKyaw, Managing Director of Shopee Vietnam, talked with VietNamNet about the successstory of Shopee Vietnam. Mr. PineKyaw, Managing Director of Shopee Vietnam VietNamNet: Could you share withus some initial successes of Shopee in Vietnam after one year of operation? Mr. Pine Kyaw: I think overthe past year our success is just getting people in Vietnam to know aboutShopee. Since the official launch, we have had five million downloads and a 133percent increase in listings, culminating in a total of four million listingsto date. Regionally, the company has achieved an annualized gross merchandisevolume of over US$3 billion, with more than 40 million downloads. So I think for us, our … [Read more...] about A year of huge success for Shopee Vietnam
Like many of its startups, Vietnam is navigating an array of apparent contradictions. It’s a country where nearly half the population works in agriculture but which aims to escape the middle-income trap by becoming a startup nation. Yet its startups are still constrained by a number of limitations and shortcomings when it comes to funding. “Vietnamese startups only attract funding in the tens of millions of dollars, and there are none that could receive funding in the hundreds of millions of dollars,” Mr. Nguyen Manh Dung, Venture Capitalist at CyberAgent Ventures, told the “Overview of Funding in Southeast Asia and the Vietnam Story” conference hosted by VPBank in Hanoi on September 5. As Head of Vietnam & Thailand, Mr. Dung has made investments in the largest search engine marketing (SEM) agency of Google in Vietnam, CleverAds, and the leading e-commerce website … [Read more...] about Local startups struggling to attract funding