German media firm to invest in Coc Coc

Thursday, Feb 05, 2015 10:18

Hubert Burda Media is responsible for over 400 print and digital consumer brands, making it one of Germany's largest media firms. — Photo

HA NOI (Biz Hub) — Germany's Hubert Burda Media announced on February 4 that it will invest in Vietnamese web browser and search engine Coc Coc.

Hubert Burda Media owns over 400 print and digital consumer brands, making it one of Germany's largest media firms. It has 165 million users, approximately 40 million paying consumers and 43,000 advertisers.

Peter Kennedy, executive chairman of Hubert Burda Media in Asia, said Coc Coc already reaches a very big audience, and has shown remarkable technological competitiveness and strong growth.

"We are convinced of its ability to rapidly develop and launch new features and products that are welcomed by Vietnamese users. We are really pleased to include Coc Coc in our portfolio in Asia and expect further development for our company in the near future," said Kennedy.

Hubert Burda Media has been active in Asia since 1997 and currently manages magazine businesses in many Asian countries, including Thailand, Singapore and India. It considers Asia as one of its most exciting avenues for growth during the next few years.

Coc Coc, the Hanoi-based technology company, launched its main products, including the Coc Coc browser, Coc Coc search engine, Coc Coc advertising, and a geo mapping application called "Nha Nha", in April 2013.

According to data released by American Internet technology company ComScore in October 2014, Coc Coc served 4.19 million users in Viet Nam, far more than Internet Explore and Firefox.

Le Van Thanh, co-founder of Coc Coc, was quoted by newswire as saying that Hubert Burda Media's business experience in Asia will help Coc Coc fortify its position in the Vietnamese market and expand its business in the South East Asia region.

The scale of investment by Hubert Burda Media remains unknown; however, Thanh said a specific investment amount will be made public at a "suitable time." — VNS

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