20 years of continuous innovation

For the past 20 years, we have consistently led in many fields and created "industry-first" products and services in Vietnam.

Key milestones:  

• 2004: Started the business, pioneering the PC role-playing game market.
  2012: Zalo, Vietnam's first social media platform, was launched.

• 2013: Entered the mobile payment sector with ZaloPay.

• 2014: Valued at over $1 billion.

• 2017: Signed a Memorandum of Understanding (MOU) regarding listing on the NASDAQ stock exchange in the United States.  

• 2018: VNG Cloud was launched, expanding into the cloud computing sector.

• 2023: Filed F-1 registration with the U.S. Securities and Exchange Commission, during the period when VNZ shares were listed on the UpCom exchange in Vietnam at the highest market price.

• 2024: Pursuing an AI-first strategy, launching the GreenNode AI Cloud infrastructure in Bangkok, collaborating with STT GDC to develop and operate world- class data centers, and integrating AI into various features on Zalo.

VNG's impressive growth demonstrates its ability to create sustainable and long-term value through a diverse ecosystem of solutions – from games, messaging platforms, electronic payments, cloud computing to artificial intelligence. The group's products and services not only enhance convenience, experience, and efficiency for users and partners, but also create significant synergistic power thanks to the close support between its core business segments – from attracting users and optimizing revenue to reaching the rapidly growing generation of tech-savvy youth.

Promoting Vietnam's digital economy

In 2024, VNG continued to be among the leading technology companies in Vietnam, with revenue of VND 9,273 billion and nearly 4,000 employees working in 9 cities across Vietnam and Asia. In 2024, VNG contributed VND 1,114 billion to the state budget, marking the third consecutive year maintaining a contribution level exceeding VND 1,000 billion. This success is the result of 20 years of experience in the consumer technology sector, coupled with a long-term investment strategy in research and development.

A trusted partner in national digital transformation.

VNG is proud to play a crucial role in promoting the digital economy and digital transformation in Vietnam. Zalo serves as a particularly effective bridge between the government, businesses, and citizens. By the end of 2024, 17,273 Zalo OA accounts from government agencies and public services had covered all 63 provinces and cities, reaching over 40 million users – becoming the fastest and most effective communication channel with people nationwide.

Our B2B segment also helps the business sector accelerate digital transformation through strategic solutions: GreenNode – a leading AI Cloud platform; TrueID – a comprehensive electronic identity verification (eKYC) solution used by over 40 banks; and VNG Cloud – supporting over 1,000 customers. VNG's achievements in applied AI are also recognized, with Zalo AI winning three MMA SMARTIES 2024 awards for innovative marketing solutions.

Technology for the community

Besides its business growth goals, VNG always focuses on creating positive values ​​for society and the community. We firmly believe that technology must serve people in the most critical moments. During Super Typhoon Yagi in September 2024, Zalo sent 143 million warning messages through the Zalo OA account of the "National Steering Committee for Disaster Prevention and Control" and helped 1 million people update their safety status via Zalo SOS. Previously, during the COVID-19 pandemic, Zalo Connect helped connect more than 100,000 support activities in 45 provinces and cities.

Our UpRace initiative, a unique blend of technology, running, and philanthropy, has attracted 632,000 participants over six years, covering a total distance of 25 million kilometers and raising nearly 32 billion VND for social organizations. In the gaming sector, we collaborate with VIRESA to promote professional esports, supporting Vietnamese athletes at numerous SEA Games and ASIAD 19. Notably, in 2024, VNG partnered with the Posts and Telecommunications Institute of Technology (PTIT) to launch Vietnam's first formal game development training program at a public university.

Looking to the future, we will continue to leverage the power of AI, expand our footprint in the international market, and fulfill our corporate social responsibility. We will continue to create new value for Vietnam and take Vietnamese technology brands further.

"VNG's dream has never changed - we want to build technology, develop people, and become a global technology company, creating real value for users and society," shared Founder and Chairman Le Hong Minh.

This is a series of excerpts from VNG's 2024 Annual Report. See the full version for more information.   here.

 

Source: https://www.vng.com.vn/news/enterprise/vng20-ar2024.html