[HATCH! FAIR 2013] PeaceSoft - Story & Experience from one of the most aged Internet Start-ups -...

MY STARTUP PATHSTORY & EXPERIENCE FROM (ONE OF)THE MOST AGED INTERNET START-UP

Nguyen Hoa Binh, M.Sc.Group Chairman & CEO

Group of Companies

• Founded in 2001 as software company, started eCommerce in 2005 with many (and most in dotcom industry) prizes/awards/prestiges

• Bold media presence (hundreds of coverage monthly)– As the pioneer and leading e-Commerce player

– Financial Times, AFP, BBC, Forbes, Washington Post…

• ~300 staffs working in Hanoi and Ho Chi Minh city– Co-founder, Spokeman, Head of Media: Vietnam e-Commerce Association

– Executive board member: Vietnam Software and IT Services Association

+ +

Golden Star Award by HE. Prime Minister of Vietnam

Top 100 Red Herring Asia Winner

Golden Star Award: Top 150 famous brands in Vietnam

Morning Star Award:Best ICT Solution

Best e-Commerce platform (multiple)

Most favourite e-Wallet & online payment platform (multiple)

2001 to2004

2005 to 2008

2009 to 2011

2012 to 2013

Jul-2012: Launched ShipChung.vn

Jun-2011: NganLuong partnered with PayPal

PeaceSoft-Group Important Milestones

Apr-2001: Founded by Mr.Binh as a “garage”

software company

Apr-2005: Launched ChoDienTu.vn

Jun-2008: Co-branded with eBay

Sep-2008: Serie-B led by SoftBank

Apr-2009: Launched eBay.vn, NganLuong.vn

and Adnet.vn

Mar-2011: Serie-C led by eBay

Apr-2004: Setup its first office as a

physical company

IDG made 1,150% ROI after 3 years

SBCI made 250% ROI

after 2 years

Aug-2005: Serie-A led by IDGVV

Oct-2012: MOL bought 50% stake in NganLuong

PeaceSoft made 1,428% ROI

after 3.5 years

Dec-2012: Spun-off eCommerce business for

Serie-D led by eBay

My story

• Self-studied IT from 1996– Moderate background,

IT influence, (a bit) inferiority

– Hobby addiction of playing, programming, hacking…

• FPT Young Talents center– First products: peer2peer

software, GIS mapping– Most awards: TTVN,

Imagine Cup, IT talents… (20+)

– Got bold media coverage & first outsourcing customers

• PS Biz. Reg. 4/2001 from $100: alone & simple thoughts– No money, no dream

My experience

• Desire & hobby: the first tier gas to fuel your start-up

• Don’t shy, be self-confident!

• Find your own environment (incubator)

• Float/show yourself• Funding is important!

Chapter 1. Pre (Why did I?)

My story

• First 3 years: software oursourcing to survive

• The first IDGVV’s portfolio, through an interesting story– Singapore International

Foundation fellowship 2003

– IDG-ASEAN’s largest business event in Singapore

– Self-pitching with no result– Blog featured on Tuoi Tre,

gratitude shown by IDG

• Started ChoDienTu & kept making mistakes– Wasted 2 years in Japan

My experience

• Just try your best, the rest will come (Quang BKAV)– Stay hungry, stay foolist:

don’t be shy or weighing too much

• Mixing with outside world is important, just go…– Đi ngày đàng, học sàng

khôn!

• Academic is bull*beep* for your business– Don’t waste your time!

Chapter 2. Early (How did I?)

My story

• Greedy time: keep expanding ecosystem– Vtrade LLC. subsidiary in

US– Middle management &

operation team is important

• Play as serial entrepreneur, keep starting things up– Start angel investment

since 2007: Moore, Adbay…

• PR as the main low-budget marketing tools– Becoming less effective!

My experience

• Horizontally expansion or vertically deep-dive?– Your choice!– A different example: Mr.An

Vinabook/HotDeal– Stay focused during early

time

• Grab your own son of the *beep* (COO)– “Every successful

enterprise requires three men: a dreamer, a businessman, and a son-of-a-bitch”

Chapter 3. Growth (Where am I?)

Profitable e-Commerce eco-system

Cross Border Retail Platform

High-branded fashion

platform

Group-buying marketplace

Online store platform for

SME

e-Com shipping gateway

B2C2C localmarketplace

Advertisement network

Online PaymenteWallet platform

Qualified B2C shopping mall

My story

• Going mobile (sales platform)– EMV-L2 certified mobile-

PoS, everyone can accept card

• Going regional– Bring unique business

models to SEA: MY, PH, ID, TH

– Deploy mobile payment service in Malaysia: MOL-Wallet (Starbucks, 7-11…)

• NexTTech angel & investment– Startup mentor &

supporter– Bring your product to SEA

My experience

• Mobile is the future!• Be confident: Vietnamese

is capable– Outside world has lots of

fish– Don’t stay behind your

“bamboo clump”

• Be shy: you are expat!– Find your local partner

• Pay-back to community when you become strong– Incubate & support

startups

Chapter 4. Future (What would I?)

Our latest achivement

Red Herring Global is the world’s leading award to findout Top 100 promisingful technology companies.

Nearly 200 candidates who are regional award-winners in North America, Europe and Asia are competing every year.

During over 20 years, many giants have grew up from this award: Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube and eBay…

*BEEP* was entitled as

Red Herring Global Winner

for 2013 in Santa Monica, California

My way… I did it! - How about you?

Investors

Customers

Employees

PeaceSoft

E: peace@peacesoft.net P: 1900-585-888 W: PeaceSoft.net