FPT may be Vietnam’s largest tech company with a newfangled US$3 million seed fund announced just yesterday, but VNG is considered Vietnam’s largest consumer tech company with products stretching from music downloads to news to a chat app. Today, VNG announced that it just hit 30 million registered users worldwide on its chat app Zalo. Zalo now sees 400 million messages per day. That’s up 10 million more users from November last year and nearly 20 million up from this month last year.
Zalo, a 100 percent Vietnamese OTT app, has 20 million users, a surprising figure to many people. In the eyes of Vietnamese, locally made products are often seen as having an inferior quality to foreign products. However, the “principle” is not true in the case of Zalo. The OTT market had a great war in 2012-2013, with some players dislodged from the market. These included Wala, a young player which could not survive the stiff competition.