NEWS VIETNAM

Vietnam's largest Internet music company, NCT Corp., to launch social network Nivi.vn

NhacCuaTui’s users will soon have access to Vietnam’s very own social network, Nivi.vn.

By Joash Wee

NCT Corporation, the company behind Vietnam’s answer to Spotify, NhacCuaTui, is currently working on the release of their very own social network. According to Vietnam’s leading tech startup blog, Action.vn, the social network, Nivi.vn, seems to be a mash up of Facebook, Twitter and Weibo.

In February this year, Japanese venture capital firm, CyberAgent, made an investment in NCT Corporation through their Vietnamese operations. When covering the investment, President and CEO of NCT Corporation, Nhan The Luan, mentioned that the investment would be used to create “new businesses” to take advantage of the huge traffic that the site is getting on a daily basis. It would seem that the social network is something that NCT Corporation is looking to engage their users more. Once launched, NhacCuaTui users can use their accounts to log into Nivi.vn.

The current site is in closed beta but the e27 managed to grab a sneak peak at Nivi.vn. From the looks of it, the service will be focused on Vietnam alone as the location selections are all local cities and towns. The ability for users to customize their profile background reminds of the days of Friendster, although Twitter also allows this. The public launch is scheduled for 5 August.

  • Twitter
    Twitter United States of America Twitter is a global real-time communications platform that enables users to post and read 'tweets,' messages limited to 140 characters. Funding: 35M Series C Investors: Digital Garage Digital Garage
  • Facebook
    Facebook United States of America Facebook is an online social networking service that enables its users to connect with friends and family as well as make new connections. Funding: 240M Series C Investors: Microsoft
  • Spotify
    Spotify United States of America Spotify has created a lightweight software application that allows instant listening to specific tracks or albums with virtually no buffering delay. Funding: 526M Series G Investors: Goldman Sachs Goldman Sachs
  • NCT Corporation
    NCT Corporation Vietnam Founded in 2008, NCT Corporation was originally named Nhaccuatui Corporation, according to their first product nhaccuatui.com, a music sharing website where people can share their favorite music. Funding: 0 Series B Investors: CyberAgent Ventures