Vietnamese startup poised second largest e-commerce platform, declares war with Alibaba

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Vietnamese startup poised second largest e-commerce platform, declares war with Alibaba
According to the 2015 e-Commerce report announced April 15 by Vietnam e-commerce and Information Technology Agency (www.vecita.gov.vn), ChoDienTu.vn, one of the first e-market platforms in the country since 2005, is ranked the second largest e-commerce website in sales revenue.
The fact has shown that local e-commerce players having unique strategy and in-depth local understanding can counter foreign giants, given much smaller funding.
This news has marked the spectacular resurgence of an e-marketplace which has been quite silent in the past few years.
To summarize on this achievement, Mr. Nguyen Hoa Binh, chairman for PeaceSoft-group owning ChoDienTu.vn, said: “Facing the e-Commerce fever in the last few years where many deep-pocket players have been giving big discounts and promotion to buy growth, but then shut down and losing investments worth dozens of millions of dollars because of inefficiency burn rate; ChoDienTu.vn has chosen in-depth strategy by silently investing into infrastructure services to create long term values and improve service quality to buyers and sellers.”
Specifically, starting from just a single e-Marketplace 11 years ago, in the last six years PeaceSoft-group has grown into a multi-services ecosystem including NganLuong.vn online payment platform, eBay.vn cross border buying platform, ShipChung.vn shipping and cash-on-delivery platform and entered into a strategic partnership with the country-first warehousing and fulfillment platform BoxMe.vn… making customers prioritize one-stop e-commerce service on ChoDienTu.vn for online buying and selling needs.
“With this our so-called “people’s war” strategy, if Jack Ma is the crocodile in the Yangtze River then we will be a school of piranhas to fairly compete with Alibaba in Vietnam,” Mr.Binh confidently said as asked about the upcoming threat from Chinese e-commerce giant following their Lazada acquisition.
ChoDienTu.vn is wholly owned by PeaceTech, a subsidiary of PeaceSoft-group joint venture with eBay and controlled by a majority of Vietnamese veteran technology entrepreneurs.
“For the last 11 years, total funding into ChoDienTu.vn was half less than the spending by the recently shutdown Deca.vn in nearly two years, and around 50 times less than what the currently number one e-commerce website has spent for the last four years.
“This means e-commerce does not absolutely require much money like someone said while IDG’s project Lana was shut down, but the most important thing is a team of people with in-depth local understanding,” Mr.Binh concluded.

Biggest e-commerce websites in Vietnam in terms of revenues, according to the 2015 e-commerce report by Vietnam e-Commerce and Information Technology Agency

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