The mobile games market might not sound like a hot subject in a time when so many business and practical apps are out there. In Vietnam, it's a different story where mobile gaming is now a huge industry. Half of the 350 million app downloads in Vietnam are now games.
This hasn't stopped a Vietnam-based app startup from thriving worldwide. Appota has become the most popular mobile app platform in the region for three different reasons.
One, they're one of the leaders in providing mobile gaming. They also provide a platform for mobile advertising, and payment systems.
As a graduate of our Hanoi Founder Institute, Appota recently hit a new milestone. They've closed an undisclosed Series C funding round from Korea Investment Partners and Mirae Asset Venture Investment.
Here's a look at this exciting company and where it's going with their new funding.
The Founder Behind Appota
This company is the brainchild of founder Do Tuan Anh who was already well-known as a mobile games publisher. Appota opened in 2011 and was officially founded in the first Topica Founder Institute in Vietnam.
Since Anh was already an expert in mobile gaming, it became his initial focus. His team realized they could do more than just become an app that focusing on one thing. Most apps around the world focus on a singular practical feature, but Anh soon turned Appota into a mobile marketing platform on the side.
Later, they added a simple payment solution for e-commerce businesses.
All of these features were amazingly efficient, hence why our Founder Institute gave them a Most Disruptive Award. This was in 2012, only a year after the company opened.
For Anh and his team, it's been a successful ride over the last five years. With this new Series C funding, they can take things to a new level. Through a recent quote from Vietnamese media, he gives an astounding number on where they are now financially: "We're approaching US$50 million."
How Appota Works
Go on their website and you'll see a lot of thorough explanations as to how their gaming, marketing, and payment systems operate. Many of the games they offer are some of the hottest titles in Vietnam. What makes their games stand out is they aren't bootlegged or cracked. Both of these issues are a rampant problem lately in Vietnam.
Through their gaming angle, they've developed a lot of trust from gaming designers thanks to assured payments.
On the marketing end, Appota provides a complete package for advertisers. With an assured 1 million daily impressions, they give you ways to create effective ads, and work with publishers. Part of this includes revenue share models through affiliates.
Their payment system is one of the easiest to use in Asia. Called Appota Pay, it's easy to integrate, has complete security, and offers an international payment solution.
The Future is Bright for Appota
One major force behind having Do Tuan Anh running Appota is his background in various successful tech companies. As early as 2003, he founded GSM Company, which became one of the most successful tech companies in Vietnam.
He also had other tech ventures in subsequent years, despite all of them closing. Still, Anh has a smart way of looking at business failure:
...All the failures have given me much-needed lessons to grow Appota."
Through trial and error, it's clear he's doing something right through his new company, mainly through networking. Their website notes they have 30 million active users. In addition, they have partnerships with 15,000 developers, advertisers, and merchants worldwide.
Plus, they've worked with Google in deploying their Mobile Ad Exchange platform.
Whether they become popular in other countries is still up in the air. Although it's clear Appota is the first name in mobile technology for those living in a thriving entrepreneurial Vietnam.
