Internet company VNG earns 133 million USD in net revenue in 2016
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Internet company VNG earns 133 million USD in net revenue in 2016

Economy, Vietnam, Vietnam Finance News
The mobile-based free texting and calling app Zalo was developed by VNG Corporation. (Photo: Internet)

Hanoi (VNA)
– Vietnam-based internet
company VNG Corporation earned more than 3 trillion VND in net revenue (133
million USD) and 543.4 billion VND (23.9million USD) in after-tax profit last
year, according to its 2016 financial report.

The technology company recently released the
financial report in preparation for its initial public offering on the US’s
NASDAQ Stock Market.

The NASDAQ is one of the world’s leading
stock markets, while VNG is among the biggest internet and technology firms in
Vietnam and Southeast Asia with more than 2,000 employees and millions of users
around the globe.

VNG has charter capital of about 330.9
billion VND (over 14.5 million USD), equivalent to more than 33 million shares;
44.64 percent of which are owned by foreign investors from Singapore,
Luxembourg, China, the US and Canada.

One of its most successful products,
mobile-based free texting and calling app Zalo, attracted some 50 million users
in Vietnam by mid-2016.

The firm hopes its latest mobile application
Zalo Pay, an online payment service, replace cash payment in the country’s
major cities in the next five years. It will also take part in smart-city
projects by offering Internet-of-Things solutions and is seeking opportunities
to invest in startups in Singapore and the US.-VNA


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