Vietnam's mobile content marketplace Appota raises millions to go global
With 3.5 million monthly active users, Appota wants to further expand in Southeast Asia, and enter Africa and South AmericaBy Elaine Huang 14 Apr, 2014
Vietnam-based mobile content marketplace Appota today announced that it has secured an investment of a “couple of millions” to ramp up human resources, marketing, product research and development, and business expansion plans.
While Tran Quoc Toan, Marketing Manager, Appota declined to disclose the investors at the moment, he did share that the money is coming from two investors — one from Japan and the other from Singapore. He told e27, “We did consider some investors and (chose the) ones (who) are really suitable to our development strategy in the next two years, in terms of finance, business partners, international marketing experience and other resources.”
Founded in late 2011, Appota is a platform that allows developers and game publishers to distribute their creations to smartphone users in Vietnam, according to the official website. Based in Hanoi, Vietnam, the startup has branches in Ho Chi Minh City (Vietnam), Singapore and Jakarta, Indonesia, with more than 100 employees across all offices.
In the near future, users can look forward to a social network for the global gamer base, onClan, on both iOS App Store and Google Play. While it is already available on the App Store, the official website displays a “coming soon” label for the Android app.
Furthermore, Appota has solid numbers to share for its work in Vietnam. Toan shared that the startup has a distribution network of over 15 million smartphone users, of which 90 per cent hail from Vietnam, and six per cent from other parts of Southeast Asia. For the record, Appota has a daily active user rate of more than 350,000, and a monthly active user rate of 3.5 million. The team also works with more than 9,000 domestic and international developers.
Having spent a year researching data in Southeast Asia, the team is aiming to boost expansion efforts in the region by the third quarter of 2014. While Appota does that, it will also conduct market research in emerging countries in Africa and South America. “We hope to do official business there in (mid-2015),” said Toan.