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VNG Corporation

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VNG Corporation (Vietnamese: CTCP VNG, lit. 'VNG JSC'), also recognized by its former brand name, VinaGame (VNG), is a Vietnamese technology company founded in 2004. It specialises in digital content, online entertainment, social networking, and e-commerce.[2] Its focus is on four main businesses, including online games, platforms, digital payments, and cloud services. VNG is responsible for the development of products such as Zalo, ZaloPay, Zing MP3, and 123phim.[3]

VNG Corporation
VNG
Native name
Công ty Cổ phần VNG
FormerlyVinaGame[1]
Company typeJoint Stock Company
  • UPCoM: VNZ
Industry
  • Internet information providers
  • Digital content
  • E-commerce
  • Gaming
Founded9 September 2004
Headquarters
  • VNG Campus
  • Lot Z06, St. 13, Tan Thuan Dong Ward, Dist. 7,
  • Ho Chi Minh City, Vietnam
Key people
  • Le Hong Minh (founder & CEO)
  • Vuong Quang Khai (co-founder of VNG, president of Zalo)
  • Nguyen Le Thanh
Products
  • Media and online games
  • Communication
  • Software
  • E-commerce
Services
  • Financial connectivity
  • Payment platforms
  • Cloud services
Revenue7.8 trillion VND (2022)
-1.08 trillion VND (2022)
Number of employees
2700 (2018)
Websitevng.com.vn

According to the ASEAN Post, the company is "Vietnam's first ever unicorn start-up".[4]

Timeline

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VNG was founded on 9 September 2004, under the name VinaGame.

  • 2006–2007: The company focused on developing software products, such as "Internet Cyber Station Manager" (CSM) and 123mua.com.vn (e-commerce). They also developed web products under the Zing Brand—a comprehensive platform covering information, connection, and entertainment. In August 2008, Alexa ranked ZingMP3 the most popular listening and search tool for online music in Vietnam.
  • 2008–2009: The company launches under the name VNG Corporation.
  • 2010–2011: Created an online game called Thuận, which won the Sao Khue award in 2010 in the category of Products/Gaming Solutions and Electronic Entertainment. The Un In online game was exported to Japan.
  • 2012–2013: Zalo, a mobile application for instant messaging and calls, reached 10 million users in 1.5 years.
  • 2014: VNG was evaluated at 1 billion US dollars by World Startup Report and become the first and only unicorn startup in Vietnam.[5]
  • 2015: VNG was honored as "Global Fast-Growing Enterprise in East Asia" by the World Economic Forum (Manila, Philippines).[6]
  • 2016: VNG launched Zalopay—a mobile payment application.[7]
  • 2017: VNG was the first Vietnamese tech company to sign an MOU with the world's second-largest stock exchange, Nasdaq, to explore a US listing.[8]
  • 2018: VNG announced new strategic businesses, such as finance and payment and cloud services.
  • 2024: At Vietnam GameVerse 2024, a gaming festival, VNG and Roblox announced their cooperation, making VNG the official publisher of Roblox in Vietnam.[9]

Data center

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VNG has two Tier-3 standard data centers, located in Ho Chi Minh City and Hanoi.[10]

Products and services

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Digital content and online entertainment

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Zuni online learning

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Main article: Zuni (website)

Zuni is an online nonprofit educational project funded and operated by VNG and VNIF, which was officially published in March 2014.[11]

Zing MP3

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Zing MP3, a music streaming service, was launched in August 2007. Its smartphone application went on to become one of the few most frequently downloaded apps in Vietnam.[12]

Community connections

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Zing Me social network

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Zing Me is a social network operated by VNG, introduced in August 2009. It is integrated directly via the Zing system, with a variety of special applications like blogging, photo and music sharing, gaming, video clips, and email. In addition, Zing Me was the first social network in Vietnam that had the properties of a platform. In March 2010, Zing Me launched its first version for mobile phones.[13]

Zalo

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Main article: Zalo

Zalo is a free message and call application on mobile and desktop, released on 8 August 2012 for iOS, Android, and Windows phones.

Finance

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123Pay

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In 2010, VNG created the online payment platform 123Pay. It is the successor to and developed on the ZingPay platform, used for VNG's online games since 2005.

ZaloPay

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ZaloPay is a digital and personal payment platform.[14]

Software

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CSM

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Cyber Station Manager (CSM) is a free software from VNG for managing internet agencies. The first version of CSM was published on 2 February 2006.

Cloud services

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  • Full-stack cloud services for organizations and businesses, with smart tech solutions linked through internet connection and cloud technology.[15]
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On 23 and 24 February 2009, inspectors discovered software copyright infringement worth VND 5 billion (around US$295,000) during a sudden raid on Vinagame headquarters in Ho Chi Minh City.[16]

In August 2020, VNG sued TikTok for $9.5 million, alleging copyright infringement.[17]

Recognition

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In April 2014, VNG received the "Third-class Labor Medal", signed by the president of Vietnam and awarded by the prime minister to Lê Hồng Minh, VNG's chairman and CEO.[18]

References

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  1. ^ Fannin, Rebecca (8 February 2010). "Here Come the Viet Gamers". Forbes. Retrieved 12 February 2022.
  2. ^ Giac mo nternet mang ten VNG thanhnien.com.vn
  3. ^ VNG Products
  4. ^ "ASEAN's unicorns growing". The ASEAN Post. 29 December 2016. Retrieved 27 May 2020.
  5. ^ "Báo Mới - Tin tức mới nhất cập nhật liên tục 24H". 7 April 2021.
  6. ^ "VNG được vinh danh tại Diễn đàn Kinh tế Thế giới". 23 May 2014.
  7. ^ "Ra mắt giải pháp thanh toán di động Zalo Pay". 27 December 2016. Archived from the original on 18 October 2020. Retrieved 3 October 2019.
  8. ^ Menur, Anisa. "VNG Corporation to list on Nasdaq, is the first Vietnamese firm to have overseas IPO". e27. Retrieved 27 May 2020.
  9. ^ "VNG Corporation becomes the official publisher of Roblox in Vietnam". Vietnamnews. Retrieved 13 May 2024.
  10. ^ "VNG được tài trợ 8,5 tỷ đồng triển khai công nghệ điện toán đám mây". Archived from the original on 17 July 2014. Retrieved 29 November 2022.
  11. ^ "Ra mắt website giáo dục trực tuyến zuni.vn". 19 March 2014.
  12. ^ "cac-ung-dung-di-dong-viet-viet-nen-chuyen-co-tich-thoi-hien-dai". Retrieved 29 November 2022.
  13. ^ "Zing-Me-cap-nhat-loat-phien-ban-moi-tren-di-dong". Archived from the original on 3 September 2014. Retrieved 29 August 2014.
  14. ^ "ZaloPay – Ví điện tử quốc dân ngay trong Zalo". ZaloPay.vn (in Vietnamese). Retrieved 1 March 2022.
  15. ^ "Vinadata. Product. vCloudStack". Archived from the original on 19 April 2019. Retrieved 23 September 2019.
  16. ^ "Thanh tra bản quyền phần mềm tại TP.HCM". Báo Thanh Niên. 26 February 2009. Retrieved 29 November 2022.
  17. ^ "Vietnamese tech firm sues TikTok, alleging copyright infringement". Reuters. 24 August 2020. Retrieved 15 September 2020.
  18. ^ "Công ty VNG nhận Huân chương Lao động hạng Ba". 18 April 2014.
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