Vietnam’s top tech startups in consolidation mode

Last year saw Vietnam’s emerging tech startups, especially in telecom, retail and entertainment consolidate.  Mergers and acquisition activity in this space involved both the successful and the emerging companies. DEALSTREETASIA takes a look at the top four deals in the technical startup space and these involved the popular portal Sendo, HaviVL, chat app Wala and Ticketbox.

123mua.vn acquired by Sendo.vn

On July 7, Sen Do JSC (Red Lotus), an FPT’s online retailer officially became the owner of Vietnamese pioneering e-commerce site 123mua.vn, bought from consumer technology company VNG. The deal’s value was estimated to be around VND10 billion ($469,500), instead of the rumoured $250,000. Sen Do’s acquisition of 123mua.vn, was a step towards consolidation of the company in the e-commerce market, as it has a shorter period of operation and fewer users.

HaiVL.com acquired by 24H

HaiVL.com, the entertainment website under Hanoi-based APPVL Company, had an inspiring and unprecedented story for tapping Vietnamese netizens’s thirst for fresh content. By hitting four million unique visits per day, it had come to be known as the number one site Vietnamese people go to for a laugh.

On October 8, the local media firm 24H Online Advertising JSC (24H) became HaiVL’s owner at the price of $1.54 million.

However, in October, HaiVL was forced to shut down and and pay a fine of VND205 million ($9,600) for “providing, exchanging and spreading information which distorted history and dishonored national heroes”.

Chatting app Wala acquired by VIVAS

VIVAS, an affiliate of VNPT Technology, took over Wala, a chatting app for Vietnamese. It is rumoured that VIVAS currently holds 60 per cent in ICOMM, the owner of Wala.vn. Following the acquisition, VIVAS has developed a new app called VietTalk, which is now promoted by Vietnam’s telecom service provider Vinaphone.

MuaTicket.vn merged into TicketBox.vn

In December, Tran Tuan Anh, co-founder and CEO of TicketBox.vn said the merger with ticket booking service MuaTicket.vn had been completed but did not reveal the value of the deal. TicketBox.vn targets over 400 clients this year, therefore Anh hopes the merger will boost the company’s position in the market.

Three co-founders of MuaTicket.vn will work in the business development and marketing departments of TicketBox.vn.

Related story: ‘Second-wave startups can expand beyond VN’

Image: freedigitalphotos.net

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.