A Vietnamese internet startup that’s successfully defended its home market of 100 million people against global giants like Facebook is now going into attack mode.
VNG Corp., Vietnam’s answer to Tencent Holdings Ltd. with games, messaging, videos and music among its services, is accelerating its international expansion, co-founder Le Hong Minh said in an interview at its headquarters in Ho Chi Minh City. Games will be its spearhead, and VNG also seeks to add global revenue from artificial intelligence and cloud computing products.
The tech startup’s success abroad would be a milestone for Vietnam, a Communist country better known for textiles and agriculture. As part of its growth plans, VNG has taken steps toward being included on a local exchange for unlisted firms, often a precursor for a listing on an official exchange. The company is also reportedly eyeing a US listing — something Minh wouldn’t directly confirm.