Vietnamese unicorn included in 10 Asian companies to watch in 2023 list
VNG - the first Vietnamese tech unicorn - was included in the 10 Asian companies to watch in 2023 list announced by Japan’s Nikkei Asia web.
VNG - the first Vietnamese tech unicorn - was included in the 10 Asian companies to watch in 2023 list announced by Japan’s Nikkei Asia web. (Photo: VNG)
Tokyo (VNA) – VNG - the first Vietnamesetech unicorn - was included in the 10 Asian companies to watch in 2023 listannounced by Japan’s Nikkei Asia web.
According to the web, the VNG has emerged as one of thecountry's most watched companies, with a possible initial public offering in2023. The tech company has registered to trade some of its shares on alocal exchange for unlisted firms, a move that is often used for companies totest the stock market before their official IPO. It is also reportedly eyeinga US listing.
Founded in 2004 by Le Hong Minh,an Australian-educated investment banker, the VNG started out as an onlinegame publisher and developer called Vinagame. The company's cash cow businesshas expanded to other Asian markets, where it competes with rivals likeSingapore-based Sea. With users in more than 130 countries, the VNG aims to reach320 million customers globally in this year.
The Vietnamese tech company has expanded to otherareas, most notably with Zalo, its messenger app launched in 2012. The serviceovertook Meta's Facebook Messenger in Vietnam in 2020 and now has over 74million active users in its home market, where the app is used to chat, shop,send money, and pay household bills.
After defending its home market from other tech giantsand expanding regionally, the VNG is trying to accelerate its international expansion-- which a US market debut will facilitate.
Nikei Asia also highlighted that after navigating aturbulent year of conflicts, inflation and a lingering pandemic, Asiancompanies have emerged with their sights set on shaking up markets at home andabroad in 2023.
Other names in the list included Chinese electricvehicle maker BYD, Indonesia’s Indika Energy, Commercial Aircraft Corporationof China, Japanese power chipmaker Rohm./.
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VNG - the first Vietnamese tech unicorn - was included in the 10 Asian companies to watch in 2023 list announced by Japan’s Nikkei Asia web. (Photo: VNG)