The country's potential for growth, its young population and good Internet infrastructure have made it an attractive destination for regional and international investors and startups in online content, e-payment and other services. I'm sure it's right.'Ĭlose to a third of Vietnam's 90 million people are online and men and women browsing phones and tablets are a common sight in the cafes of its towns and cities. 'But after living here for one year, I understand the language and market much more deeply. 'When I came here, I had some understanding why Vietnam was a good market to beat Google,' said Mikhail Kostin, the company's chief search expert and like others in Coc Coc, a veteran at Russia's largest Internet company, Mail.Ru. The company has so far spent $10 million, hired 300 staff - including 30 foreigners, mostly Russians - and spread itself out over four floors of a downtown office block in the Vietnamese capital.Īccording to Coc Coc's founders, its investors have $100 million over the next five years to try and get a chunk of the 97 percent of Vietnamese web surfers who currently use Google to switch. Unlike other past hopefuls, Coc Coc is not short of cash.
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