Gapo Technology JSC on Tuesday officially launched a “made in Vietnam” social network, called Gapo, in an effort to shift users to a local platform amid a strong presence of global players in the market.
The mobile app lets users create personal profiles, upload video, images and share posts to a Facebook style “news feed”. It also has functions of livestream and blogging. In addition, it allows users to identify accounts to protect information, pay online or use public services. Dtinews reports.
Gapo, the app that mimics Facebook, targets to acquire three million users in 2019, and 50 million by 2021.
Speaking at the launch ceremony, Hà Trung Kiên, Gapo’s CEO, said the company wanted to launch the product soon to listen to responses from users though the app was developed in April.
“Gapo will focus on personalising user experience,” Kiên said.
Gapo received VNĐ500 billion (US$22 million) in funding from tech corporation G-Group which has other assets including Mekong Capital-backed pawn shop chain F88 and Belt Road Capital Management-backed P2P lending start-up Tima.
With the investment commitment, Gapo became the 9th member under G Group ecosystem including F88, Tima, G-Pay, Ginnovations, BEATVN, GameTV, VSEC and G-Capital.
The $22-million capital injection will be used for Gapo’s first phase of development.
In addition, it also announced it would team up with Sony Music Entertainment to feature music content by the strategic partner.
The launch of Gapo comes at a time when the Ministry of Information and Communication is calling for the establishment of ‘made in Vietnam’ social platforms. Several apps have been built, such as VietnamTa and Hahalolo, but they have lacked basic investments.
Of its population of 97 million, 42 million Vietnamese people use Facebook every day, local media reported in 2018.