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S T R I C T L Y C O N F I D E N T I A LPage-1
OUR PRODUCTS
• SNS: tamtay.vn
• Card games portal: Thapthanh.com
• MMORPG games portal: vohiep.com
• Media Publishing Platform: Fancipan
S T R I C T L Y C O N F I D E N T I A LPage-2
S T R I C T L Y C O N F I D E N T I A L
Tamtay is one of a few independent gaming company in Vietnam with 50+ employees, having production capability and profitable from its self-produced games
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Existing Traction
13M registered users600,000 monthly active
users1M paid users
$1.5M revenue 201320%+ net profit
Market Leadership
No . 1 in online card games in Vietnam. Card
games are the categorical leader in profits & loyalty
CompanyPedigree
IDG Ventures Series ASNS, Social Media Publishing
Game Studio + PublishingUnique industry position
EXECUTIVE SUMMARY
S T R I C T L Y C O N F I D E N T I A L
• Founded in 2007 and based in Hanoi, Vietnam• 2013 annual revenues of US$1.5M, net profit margin 20%. 100 employees• Tamtay has over 13 million registered users in Vietnam with 600k monthly active users• Capable of producing card games and social games since 2009• Top 10 online entertainment company in Vietnam
• Tamtay.vn is in a top-3 social networks• Thapthanh.com is #1 website for card games• Blog.tamtay.vn is #2 blog service in Vietnam
• Led by Sunny Tran, a successful entrepreneur who previously worked for Accenture, AIG and led Ernst & Young’s Indochina IT practice
• Tamtay currently generates revenue through subscription fees for online card games and Massively Multiplayer Online Role-Playing Games (MMORPG) for both desktop and mobile
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Company Highlights
COMPANY HIGHLIGHTS
S T R I C T L Y C O N F I D E N T I A L
• Vietnam: 5-6% GDP growth. 89 Million Population. 60 Million active mobile subscribers (approx. half with smartphones). 30 Million PC Internet users. Gaming market is approx $300 Million with 30% annual CAGR and 50% CAGR in mobile games
• Potential Major SEA markets: Indonesia, Philippines, Thailand
• Mobile Games: Mobile games will be the focus of Tamtay’s growth strategy as the share of mobile games is rapidly expanding in Vietnam and surrounding Southeast Asia
• Expand Proprietary Game Studio: There are 100+ independent game studios in Vietnam and Southeast Asia which Tamtay can acquire, acqui-hire and/or joint venture to expand its model of social network for local card games players to Southeast Asian region
• User Acquisition: Leverage Tamtay user base and consolidate users via acquisition
Tamtay will bring its unique model of SNS for local card games lovers to other SEA markets, focus on Indonesia, Philippine, Thailand
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OPPORTUNITIES SUMMARY
• Indonesia, Philippines, Thailand each has a game market of between USD200-300million in 2013, slightly less than Vietnam. However growing fast
• Due to early development of game industry in VN, we are ahead in terms of game production capability
• The market Tamtay aims to is a niche market for local card games• Utilize our model Thapthanh.com: card game portal based on a SNS
platform, very strong communities elements, frequent tournament and events
• The strategy is to find local partners in each market to build/operate one card game portal for each market
• We will experiment with the first card game in the Philippines in Q3 2014
S T R I C T L Y C O N F I D E N T I A LPage-6
MARKET POTENTIAL IN SE ASIA
S T R I C T L Y C O N F I D E N T I A L
Project TamtayFirst local
Social Network
Tamtay SJCFunded by
IDG Ventures
Game StudioSocial games
become popularamong students
Payment systemThapthanh.com
MMORPG Games
Mobile Group
Launches webgame VohiepBecomes Top 3
webgame of the year.Open HCM Branch
Thapthanh.com,a unique model
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USER, REVENUE & BRAND GROWTH
S T R I C T L Y C O N F I D E N T I A L
Tamtay Game Studio: 40 persons
SNS Division: 10 persons
R&D: 5 persons
Contents & Members Services: 5 persons
Card games and social games: 16 persons
MMORPG: 15 persons
Admin& accounting: 05 persons
Game operation: 05 persons
HA NOI
HO CHI MINH
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Game studio: 05 persons
ORGANIZATIONAL STRUCTURE
05 persons
05 persons
SNS DivisionSNS DivisionTamtay Game StudioTamtay Game Studio
Contents & Members ServiceContents & Members ServiceR&D DivisionR&D Division
Game operation I:Social GamesGame operation I:Social Games Game operations II: MMOGame operations II: MMO
Admin & accountingAdmin & accounting
Member servicesMember services
Game operationGame operation
HA NOI
HO CHI MINH05 persons
16 persons 15 persons
05 persons 05 persons
10 persons40 persons
S T R I C T L Y C O N F I D E N T I A L
Son (Sunny) Tran – Founder, Chairman, CEOSon has a combined background of technology and business. In the US, he worked for the American International Group (AIG) in New York, designing computerized solutions for insurance products; and Andersen Consulting in Chicago, in a strategic consulting group for global retail industry. Coming back to Vietnam in 1999, he supervised the IT consulting practice at Ernst & Young Indochina until 2002. From 2003 – 2006 he worked for the World Bank in Vietnam as a consultant in private sector development for the Government of Vietnam. In 2007 he founded Tamtay.vn.
Son holds a Bachelor’s in Computer Science from HUT (Hanoi University of Technology) and a Master’s Degree in Business from DePaul University in Chicago, with distinction.
Son (Eddie) Bui – CTOEddie has 10 years of experience and is a gifted software engineer with several prizes from his early age. Joined Tamtay from 2008 he has shown an excellent technical skills and held several key positions in our tech team. To broaden his knowledge in 2010 Eddie took a year leave going to Australia to finish a Master’s Degree in International Business. He came back in 2011 and has been promoted to the CTO position, supervising all aspects of game and web technology in Tamtay. Eddie holds a Bachelor’s Degree in Computer Science from Hanoi University of Technology, and a Master’s Degree of Business from La Trobe University, VIC, Australia. His awards includes a second prize in Vietnamese National Olympiad in Informatics for High school students; Third prize in Hanoi University of Science and Technology Olympiad in Information Technology; and a First prize in “Nhan tai Dat Viet” (a prestigious competition for Information Technology solutions), to name a few.
Tamtay’s founders are entrepreneurs with deep international experience and a long track record of product & market success
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KEY LEADERSHIP
S T R I C T L Y C O N F I D E N T I A LTamtay functional experts are experienced product managers with strong development and roll-out capabilities
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OPERATIONS MANAGEMENT
Phuong Cao – COO, Content DirectorPhuong has 10 years of experience in telecommunication and TV production, online servies. Before joining Tamtay she was a senior manager at VTC for 06 years, where she was Director of Ads and Content Services Center, in charge of several Departments: content services, marketing Dept, VTC news online, VTC11 channel. Phuong joined Tamtay in 2012 and has been promoted to COO and Content Director. Phuong holds a Bachelor’s Degree in Computer Science with distinction from Bangalore University, India
Tung Nguyen – Head of MMO DepartmentTung has spent 07 years stationed in China working for some fast-growing Vietnamese companies such as T&M Trans and Euro Windows. Joining Tamtay in 2007 he first worked in business development for SNS. He was appointed Head of MMO Department in 2010. His profound Mandarin skill and culture understanding of China has greatly helped his effort to build close connections with Chinese game producers and stay on top of the Chinese game market. Tung holds a Banchelor’s Degree in Chinese language and culture from Hanoi University of Foreign Languages
Thao Cao – Chief AccountantThao has 15 years of experience in finance and accounting
Son Le – Head of Social Games DepartmentWith 7 years in VDC from 2001, Son Le was manager of Value Added Service Department, operating many services: e-newspaper, hosting, SMS, game…Joined Tamtay from early 2007, he has helped build member community with many roles: marketing, content manager and game operation. He is now in charge of G2 Department, which operates all casual games self-produced by Tamtay. Son Le holds a Master’s Degree of International Economics from Foreign Trade University. His award includes a consolation prize in Vietnamese National Contest in Mathematics for High school students
S T R I C T L Y C O N F I D E N T I A LPage-11
Tamtay has a robust payment framework with an emphasis on telco-based arrangements which can be expanded across Southeast Asia
ABILITY TO LEVERAGE TAMTAY PAYMENT PLATFORM
S T R I C T L Y C O N F I D E N T I A LSource: 2008-2012 annual reports audited by Ernst & Young Vietnam
Tamtay Joint Stock CompanyHistorical Financials(in US$)
2008 2009 2010 2011 2012Gross Revenues $ 9,864 $ 16,456 $ 356,744 $ 908,648 $ 1,274,616
Cost of Goods Sold $ 139,719 $ 281,126 $ 232,715 $ 563,772 $ 863,840
Gross Profit $ (129,855) $ (264,670) $ 124,029 $ 344,877 $ 410,775
Sales and Marketing $ 34,813 $ 12,145 $ 35,291 $ 71,698 $ 100,076 General and Administrative $ 86,475 $ 155,317 $ 117,571 $ 141,918 $ 175,016 Total Operating Expenses $ 121,288 $ 167,462 $ 152,862 $ 213,616 $ 275,092
EBITDA $ (251,143) $ (432,131) $ (28,833) $ 131,261 $ 135,683
Interest Income $ 1,827 $ 8,337 $ 17,684 $ 5,651 $ 3,553 Interest Expense $ 14,805 $ 91,876 $ 127,380 $ 269,311 $ - Amortization Expenses $ - $ - $ - $ - $ -
EBIT $ (264,121) $ (515,670) $ (138,529) $ (132,399) $ 139,236
Tamtay has experienced steady growth in revenues since 2008 and is generating positive cash flows.
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HISTORICAL FINANCIALS
S T R I C T L Y C O N F I D E N T I A L
Shareholder %
Tran Thanh Son 67.14%
IDG VV3 Ltd 25.58%
Others 7.28%
Total 100%
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CAPITAL STRUCTURE
