VNG Corporation explained

VNG Corporation
Trading Name:VNG
Native Name:Công ty Cổ phần VNG
Former Name:VinaGame[1]
Type:Joint Stock Company
Traded As:
  • UPCoM: VNZ
  • NASDAQ: VNG
Key People:
  • Le Hong Minh (founder & CEO)
  • Vuong Quang Khai (co-founder of VNG, president of Zalo)
  • Nguyen Le Thanh
Industry:
  • Internet information providers
  • Digital content
  • E-commerce
  • Gaming
Products:
  • Media and online games
  • Communication
  • Software
  • E-commerce
Services:
  • Financial connectivity
  • Payment platforms
  • Cloud services
Revenue:7.8 trillion VND (2022)
Net Income:-1.08 trillion VND (2022)
Num Employees:2700 (2018)
Foundation:9 September 2004
Location:
  • VNG Campus
  • Lot Z06, St. 13, Tan Thuan Dong Ward, Dist. 7,
  • Ho Chi Minh City, Vietnam

VNG Corporation, 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]

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 VinaGame.

Data center

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

Products and services

Digital content and online entertainment

Zuni online learning

See 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

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

Zing Me social network

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

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

Finance

123Pay

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

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

Software

CSM

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

Legal issues

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

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]

Notes and References

  1. News: Fannin . Rebecca . Here Come the Viet Gamers . 12 February 2022 . Forbes . 8 February 2010.
  2. http://www.thanhnien.com.vn/pages/20140421/giac-mo-internet-mang-ten-vng.aspx Giac mo nternet mang ten VNG
  3. https://www.vng.com.vn/article/products/products.html#ent VNG Products
  4. Web site: ASEAN's unicorns growing. The ASEAN Post. 29 December 2016 . 27 May 2020.
  5. Web site: Báo Mới - Tin tức mới nhất cập nhật liên tục 24H . 7 April 2021 .
  6. Web site: VNG được vinh danh tại Diễn đàn Kinh tế Thế giới . 23 May 2014 .
  7. Web site: Ra mắt giải pháp thanh toán di động Zalo Pay . 27 December 2016 . 3 October 2019 . 18 October 2020 . https://web.archive.org/web/20201018194905/https://www.thesaigontimes.vn/155395/Ra-mat-giai-phap-thanh-toan-di-dong-Zalo-Pay.html . dead .
  8. Web site: VNG Corporation to list on Nasdaq, is the first Vietnamese firm to have overseas IPO. Menur. Anisa. e27. 27 May 2020.
  9. Web site: VNG Corporation becomes the official publisher of Roblox in Vietnam. Vietnamnews. 13 May 2024.
  10. Web site: VNG được tài trợ 8,5 tỷ đồng triển khai công nghệ điện toán đám mây. 29 November 2022. 17 July 2014. https://web.archive.org/web/20140717203758/http://baodientu.chinhphu.vn/Home/VNG-duoc-tai-tro-85-ty-dong-trien-khai-cong-nghe-dien-toan-dam-may/20114/76195.vgp. dead.
  11. Web site: Ra mắt website giáo dục trực tuyến zuni.vn . 19 March 2014 .
  12. Web site: cac-ung-dung-di-dong-viet-viet-nen-chuyen-co-tich-thoi-hien-dai. 29 November 2022.
  13. Web site: Zing-Me-cap-nhat-loat-phien-ban-moi-tren-di-dong . 29 August 2014 . 3 September 2014 . https://web.archive.org/web/20140903155657/http://news.zing.vn/Zing-Me-cap-nhat-loat-phien-ban-moi-tren-di-dong-post303485.html#search/ . dead .
  14. Web site: ZaloPay – Ví điện tử quốc dân ngay trong Zalo . 1 March 2022 . ZaloPay.vn . vi.
  15. Web site: Vinadata. Product. vCloudStack . 23 September 2019 . 19 April 2019 . https://web.archive.org/web/20190419072449/https://vinadata.vn/product/vcs . dead .
  16. Web site: Thanh tra bản quyền phần mềm tại TP.HCM. 26 February 2009. Báo Thanh Niên. 29 November 2022.
  17. News: 24 August 2020. Vietnamese tech firm sues TikTok, alleging copyright infringement. Reuters. 15 September 2020.
  18. Web site: Công ty VNG nhận Huân chương Lao động hạng Ba . 18 April 2014 .

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