VNG Corporation
VNG
Native name
Công ty Cổ phần VNG
FormerlyVinaGame[1]
TypeJoint Stock Company
UPCoM: VNZ NASDAQ: VNG
IndustryInternet Information Providers
Digital content
E-commerce
Gaming
Founded9 September 2004
HeadquartersVNG 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
ProductsMedia and online games
Communication
Software
E_Commerce
ServicesFinancial connectivity
Payment platforms
Cloud services
Revenue7.8 trillion VND (2022)
-1.08 trillion VND (2022)
Number of employees
2700 (2018)
Websitewww.vng.com.vn

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

According to The ASEAN Post, the company is “Vietnam’s first ever unicorn start-up.”[4]

Timeline

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

  • 2006-2007: The company focused on developing software products for internet users like "Internet Cyber Station Manager” (CSM), and 123mua.com.vn (e-commerce). The company also developed web products under Zing Brand – a comprehensive platform covering information, connection and entertainment for users and ranked by Alexa in August 2008 as ZingMP3 the most popular listening and searching tool for online music in Vietnam.
  • 2008-2009: Company was founded under the name of 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 also 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 of Vietnam [5]
  • 2015: VNG was honored "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 a 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.

Data center

VNG has two Tier-3 standard data centers, located in Ho Chi Minh City, and Hanoi.[9]

Products and services

Digital content and online entertainment

Zuni Online Learning

Zuni is an online non-profit education project operated and invested by VNG and VNIF, which was officially published in March 2014.[10] In June 2014, Zuni has nearly 124,000 members with more than 4,000 members active every day. Zuni was evaluated as one of the competent education projects right after its publishing, with 1466 exam samples, 618 video lectures and 124 major topics available currently.[10]

Zing MP3

Zing MP3, a music streaming service, was launched in August 2007, currently consisting of 2 versions: website and app on the iOS, Android and Windows Phone platforms. Zing MP3 application on smartphones has been one of the few most frequently downloaded ones in Vietnam in the past few years. When it was brought onto the mobile platform, Zing MP3 was an outstanding app of Vietnam with over 5 million downloads on Android [11]

Games

  • VNG is one of the four main game publishers in the Vietnamese market.
  • Produce, develop and globally publish online games as well as import and publish well-known games in the local market.
  • Highlighted products: Sky Garden, Play Together VNG, Võ Lâm Truyền Kỳ, Crossfire Legend, 360 Games, Metal Gear: Awakening

Community connections

Zing Me social network

Zing Me is a social network operated by VNG, which was 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, email. In addition, Zing Me was the first social network in Vietnam that had the properties of a platform. It allows the third-party developing apps which use common infrastructure and sharing users via opening API (Application Programing Interface) in order to diversify the system contents. In March 2010, Zing Me launched its first version for mobile phones.[12] After two year of releasing, Zing Me reached its 8.2 million-user milestone in October 2011.[13] Not only does Zing Me allow users to share their status updates and blog, it also allows them to communicate via photos, voices and emoticons. Zing Me is getting popular with more than one million photos shared by users everyday since June 2013.[14]

Zalo

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

At the end of May, VTV used Zalo as a bridge for the community to share their feelings and thoughts and send messages of encouragement to the people and soldiers on duty in Spratly Islands.

Zalo charges users and limits some features for general users From August 1, 2022, Zalo charges users, for free accounts, certain features will be limited. Immediately after that, Zalo received many 1-star reviews on the App Store and Google Play, and was banned. Many users boycotted and threatened to delete the application.

Finance and payments

123Pay

In order to meet the needs of using internally as well as developing the external market, in 2010, VNG invested in R&D for an Online Payment Platform called 123Pay. This product is inherited and developed on the payment platform of ZingPay (a payment platform used for online games of VNG since 2005).

Zalopay

Up-to-date digital payment and personal payment platforms: mobile wallet Zalopay.[15]

Applications

Laban Key

Laban Key is a Vietnamese keyboard for mobile devices developed by VNG. It was introduced in September 2013 by the Project Manager Pham Kim Long, who is also the developer of the Windows input method editor UniKey.

Software

CSM

Cyber Station Manager (CSM) is a free software from VNG for managing Internet agencies. The first version of CSM was published by VNG on 2 February 2006. CSM is the most popular managing internet shops in Vietnam with over 60% of market share and over 2 million downloads every day. There are 25,000 Internet shops nationwide using CSM to manage play time, extra services, game updates, and automatic applications.

CSM is also got certified for offering national standards TCVN 8702:2011 as in Certificate of Conformance no. B0001310314CS01A3 on 31 March 2014. This Certificate of Conformance is awarded based on the most updated procedures issued in Decision no. 350/QĐ-CVT (new) on September 12, 2013, by Vietnam Telecommunications Authority – Vietnam Ministry of Information and Communications, a substitute for Decision no 75/QĐ-QLCL.[16] In addition, CSM won the Sao Khue Award in the years of 2009, 2012 and 2014.[17]

Cloud services

  • Provide full-stack cloud services for organizations and businesses with smart tech solutions linked through Internet connection and cloud technology.
  • Highlighted products: 123CS, Cloud server, IoT HUB, vCloudStack[18]

Controversies

Game Violence

In December 2010, the inspectors of HCMC Department of Information and Communications required VinaGame that they must eliminate violence in online games. The game "Sudden Attack" was closed in HCMC on 17 October 2011.[19]

Privacy

The Inspectors examined VNG's conformity to computer software copyright laws leading to an official announcement to charge VinaGame 10 million dong as a fine for copyright infringement.

In addition, the inspectors ordered VinaGame to take down the infringed software and to commit to contacting the authors to discuss the legitimacy. After receiving the decision from the Ministry of Culture - Sports and Tourism, VinaGame had to examine every single computer currently in use, prepare a list, and pay copyright fees for the software that was work-related.[20]

In August 2007, when accessing Zing MP3, a musical entertainment tool, popular Vietnamese artists such as Bao Thy, Dan Truong, Duy Manh, Cam Ly, and even Thu Phuong and Bang Kieu (of which neither of them was allowed to publish songs in Vietnam) were. According to some lawyers, the websites, which enable searching, collecting and displaying songs, and allow online listening, infringe copyrights.[21]

On 23 and 24 February 2009 inspectors discovered a software copyright infringement worth VND 5 billion (around US$295,000) during a sudden raid on Vinagame headquarters in Ho Chi Minh City.[22]

In August 2020, VNG sued TikTok for $9.5 million on allegations of copyright infringement.[23]

Recognition

September 2013: Chairman of HCMC People's Committee Le Hoang Quan awarded merits to VNG in the recognition of many achievements in the service business and participation in charities and social activities continuously from 2008 to 2012.[24]

October 2013: In the “Awarding Ceremony of HCMC Entrepreneurs 2013”, VNG stood among 105 entrepreneurs to get the award for “Outstanding HCMC Entrepreneurs 2013”.[25]

April 2014: VNG received the "Third-class Labor Medal " signed by the President of the Socialist Republic of Vietnam and Merits awarded by the Prime Minister to Lê Hồng Minh, chairman and CEO of VNG.[26]

References

  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 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.
  10. 1 2 "Ra mắt website giáo dục trực tuyến zuni.vn". 19 March 2014.
  11. ↑ "cac-ung-dung-di-dong-viet-viet-nen-chuyen-co-tich-thoi-hien-dai". Retrieved 29 November 2022.
  12. ↑ "Zing-Me-cap-nhat-loat-phien-ban-moi-tren-di-dong". Archived from the original on 3 September 2014. Retrieved 29 August 2014.
  13. ↑ "Action Digital - Cam kết tăng trưởng traffic, leads & doanh thu với Digital Marketing". 22 February 2022.
  14. ↑ "1 triệu hình ảnh chia sẻ mỗi ngày trên Zing Me". ZingNews.vn. 6 June 2012. Retrieved 29 November 2022.
  15. ↑ "ZaloPay - Ví điện tử quốc dân ngay trong Zalo". ZaloPay.vn (in Vietnamese). Retrieved 1 March 2022.
  16. ↑ Phan mem csm nhan chung nhan hop chuan quoc gia moi
  17. ↑ "Danh hiệu Sao Khuê". danhhieusaokhue.vn. Retrieved 29 November 2022.
  18. ↑ "Vinadata. Product. vCloudStack". Archived from the original on 19 April 2019. Retrieved 23 September 2019.
  19. ↑ Nhip Song so. Game Online
  20. ↑ "Báo Người lao động". nld.com.vn. Retrieved 29 November 2022.
  21. ↑ Korea copyright info
  22. ↑ "Thanh tra bản quyền phần mềm tại TP.HCM". Báo Thanh Niên. 26 February 2009. Retrieved 29 November 2022.
  23. ↑ "Vietnamese tech firm sues TikTok, alleging copyright infringement". Reuters. 24 August 2020. Retrieved 15 September 2020.
  24. ↑ "Báo điện tử - Đảng Cộng sản Việt Nam".
  25. ↑ "Tổng hợp những thông tin đáng chú ý đến tài chính". Citinews - Website Kiến Thức Tài Chính, Ngân Hàng, Kinh Doanh, Công Nghệ. Retrieved 29 November 2022.
  26. ↑ "Công ty VNG nhận Huân chương Lao động hạng Ba". 18 April 2014.
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