HANOI, Vietnam, May 4, 2016 /PRNewswire/ -- According to 2015 e-Commerce report announced recently by Vietnam e-Commerce and Information Technology Agency (www.vecita.gov.vn), ChoDienTu.vn, Vietnam's first e-marketplace, ranked second in sales revenue with total funding spent as low as 50 times smaller than the first player, showing that local e-Commerce companies with unique strategies, in-depth local understanding and smaller funding can still counter deep-pocketed foreign giants.
Giving a speech to mark the achievement, Mr. Nguyen Hoa Binh, chairman of PeaceSoft-group, which owns ChoDienTu.vn, said, "In the face of e-Commerce fever in the last few years, many deep pocketed players have been giving big discounts and promotions to buy growth, but then shutting down after losing millions of dollars because of an inefficient burn rate. ChoDienTu.vn has chosen an in-depth strategy by silently investing into infrastructure services to create long term values and improve service quality to buyers and sellers".
Over the past six years PeaceSoft-group has grown into a multi-services ecosystem encompassing NganLuong.vn online payment platform, eBay.vn cross border buying platform, and ShipChung.vn shipping and cash-on-delivery platform, and forming a strategic partnership with the country's first warehousing and fulfilment platform BoxMe.vn, fortifying ChoDienTu.vn as a one-stop hub for all online buying and selling needs.
Speaking in response to an interview question about the potential threat posed by Alibaba's recent acquisition of Rocket Internet backed online shopping giant Lazada in South East Asia, Binh said, "With our so-called "people's fight" strategy, if Alibaba is the crocodile in the Yangtze River then we will be a school of piranhas to fairly compete as they come to Vietnam".
ChoDienTu.vn is wholly owned by PeaceTech, a subsidiary of PeaceSoft-group, itself a joint venture with eBay and majority controlled by Vietnamese veteran technopreneurs. "Over the last 11 years, total funding into ChoDienTu.vn was estimated as much as 50 times less than that spent by our number one competitor Lazada.vn over a far shorter period. This means e-Commerce does not necessarily require much money as people may though but the most critical thing is a team of people with really in-depth local understanding", added Binh.
Media Contact:
Mr. Hung Nguyen,
PA to Chairman and Group CEO
PeaceSoft - Group of Companies
Tel: +84 917 190 381
Email: hungnn@peacesoft.net
