Internet company VNG earns 133 million USD in net revenue in 2016
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 mobile-based free texting and calling app Zalo was developed by VNG Corporation. (Photo: Internet)
Hanoi (VNA) – Vietnam-based internetcompany VNG Corporation earned more than 3 trillion VND in net revenue (133million USD) and 543.4 billion VND (23.9million USD) in after-tax profit lastyear, according to its 2016 financial report.
The technology company recently released thefinancial report in preparation for its initial public offering on the US’sNASDAQ Stock Market.
The NASDAQ is one of the world’s leadingstock markets, while VNG is among the biggest internet and technology firms inVietnam and Southeast Asia with more than 2,000 employees and millions of usersaround the globe.
VNG has charter capital of about 330.9billion 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 usersin Vietnam by mid-2016.
The firm hopes its latest mobile applicationZalo Pay, an online payment service, replace cash payment in the country’smajor cities in the next five years. It will also take part in smart-cityprojects by offering Internet-of-Things solutions and is seeking opportunitiesto invest in startups in Singapore and the US.-VNA
The number of users on Zalo, the mobile-based free texting and calling app, is now equal to half of Vietnam's population and matches the number of subscribers of the country's biggest mobile carrier.
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The mobile-based free texting and calling app Zalo was developed by VNG Corporation. (Photo: Internet) 
