VNG Corporation (Vietnamese: CTCP VNG, lit. 'VNG JSC'), 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]
VNG was founded on 9 September 2004, under the name VinaGame.
2006–2007: The company focused on developing software products, such as "Internet Cyber Station Manager" (CSM) and 123mua.com.vn (e-commerce). They also developed web products under the Zing Brand—a comprehensive platform covering information, connection, and entertainment. In August 2008, Alexa ranked ZingMP3 the most popular listening and search tool for online music in Vietnam.
2008–2009: The company launches under the name 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 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 in Vietnam.[5]
2015: VNG was honored as "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 an 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.
Zuni is an online nonprofit educational project funded and operated by VNG and VNIF, which was officially published in March 2014.[10]
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.[11]
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.[12]
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.
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
Full-stack cloud services for organizations and businesses, with smart tech solutions linked through internet connection and cloud technology.[14]
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.[15]
In August 2020, VNG sued TikTok for $9.5 million, alleging copyright infringement.[16]
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.[17]
