Coc Coc, the developer of a browser and a search engine specific for Vietnam, has formed a partnership with German-owned Hubert Burda Media with the latter pledging to invest US$14 million.
In an interview with Tuoi Tre newspaper on Tuesday, Le Van Thanh, a co-founder of the Hanoi-headquartered company, said the funding will enable them to improve their products, and invest more into their sales and customer service.
He also said they planned to release the Coc Coc browser’s mobile version this year end and start working on plans to approach foreign markets as well.
Launched in April 2013, the search website coccoc.com, which is designed to understand Vietnamese queries better, ranked first in Vietnam and 151st worldwide over the past month, according to Alexa.
Its browser, also named Coc Coc, meanwhile, was reported to have over 13 million users as of October last year, surpassing the number of Firefox users in Vietnam.
Another product tailored for Vietnamese, the browser is integrated with an English-Vietnamese dictionary, Internet Download Manager-like download functions, and Vietnamese autocorrect function.
“Coc Coc already reaches a very big audience, shows remarkable technological competitiveness and strong growth,” Peter Kennedy, executive chairman of Hubert Burda Media in Asia said in a press release by the German company, which now owns more than 400 print and digital consumer brands.
“We are convinced of its ability to rapidly develop and launch new features and products that are welcomed by Vietnamese users,” he said.