Working for an American company with a huge salary, CEO Nghiem Tien Vien still decided to return to his hometown in Nghe An to find opportunities to develop himself. 2 years later, he became the owner of a startup worth 6 million USD.
Back to hometown to start a technology business
At the age of 33, Mr. Nghiem Tien Vien (Vinh City, Nghe An), founder of GoStream software - a livestreaming platform, owns a startup worth 6 million USD (about more than 145 billion VND), thanks to innovation, creativity and determination to find his own way.
Sharing about his entrepreneurial journey, Mr. Vien said that after graduating from the Information Technology major at Hanoi University of Science and Technology, he worked for an American technology company with a salary of 2,500 USD/month. However, with the desire to find his own path, he decided to return to his hometown to work.
CEO Nghiem Tien Vien boldly returned to his hometown to start a technology business.
"At that time, I also had the intention and desire to start a business, but I had no idea what I would do. I just thought, if I started a business, I would do it in Nghe An. The cost is much cheaper than in big cities, very suitable for establishing a company in the early stages and there are support policies for startups . Going back to my hometown, I can also eat my mother's cooking...", Mr. Vien shared.
When he first came back, he was in charge of the technical department of a newspaper in Nghe An. After 1 year of experience, he found an opportunity for himself. "After doing a job related to livestreaming, I found that the tools were still very manual, while my knowledge of information technology could support tool development. Therefore, two other friends and I researched and created GoStream software - a professional video livestreaming platform available on the browser. This tool helps livestream on multiple platforms, schedule broadcasts and many other features," said Mr. Vien.
After launching in 2016, seeing that many people needed to use it to support their online business, he advertised on several forums. The first month's revenue brought in 20 million VND. Seeing that this was a potential product, he decided to start a business and established GoStream Technology Joint Stock Company at the end of 2017. After only 2 years of appearing, GoStream is a platform in the top 5 most downloaded applications on Google Play and App Store (2018).
In 2020, when the Covid-19 epidemic broke out, his company quickly seized the opportunity, launching the interactive livestream product GoStudio, with many outstanding features to serve the following forms: e-commerce, training, meetings, online entertainment... GoStudio quickly developed rapidly and became the champion of the national startup competition Techfest 2020. His startup is the representative of Vietnam to participate in the world startup competition - Startup Worldcup 2021 in the US.
The guys from GoStream have contributed capital to build a million dollar startup.
NVCC
Quickly reach the world
Recently, GoStream received an investment fund of 1 million USD. His startup is valued at up to 6 million USD; at the same time, many large investment funds in the world are ready to invest in the next stages of GoStream's development. With this capital, he and his colleagues have invested more heavily in the technical and marketing teams to quickly improve the product and conquer the world market.
Mr. Vien shared that when he first started his business, the initial capital he and two friends contributed was only 500 million VND. If he were in Hanoi with that amount of money, the business would only last for 2 months, but thanks to choosing to start a business in his hometown, he was successful. Now the company generates revenue of 1.2 - 1.5 billion VND/month, attracting and creating jobs for 30 employees, with a salary of 20 million VND/month. In particular, GoStream has reached the world, with more than 3 million users not only in Vietnam but also developing strongly in foreign markets, such as Southeast Asian countries, India, Pakistan, Arabia, etc.
According to Mr. Vien, GoStream has two elements that other products do not have: software as a service, and interactive livestream. With the GoStudio product, users can use features such as inserting photos, videos, and text into livestream programs like professional TV programs. Therefore, the product has conquered the world market. Currently, GoStream is launching version 4.0 and is researching to suit the application needs of the European market.
"After participating in the competition in the US, I realized that the market here is not the same as that of Southeast Asian countries. In Vietnam or neighboring countries, GoStream is often used for online sales, but in European countries, it is only used for conferences, news and entertainment. Therefore, the new version will be more suitable for customers in Europe, the US and other developed countries," said Mr. Vien.
Mr. Vien believes that the key to a successful startup is having a breakthrough idea, not being afraid of making mistakes, and strong teammates. In particular, you must seize opportunities and overcome your comfort zone to have new breakthroughs in work and life. "At the time of starting a business, I just thought that I was still young, if I made a mistake at this time, it would have less consequences than if I started making mistakes later when I was older. Young people, future entrepreneurs, let yourself make mistakes, be bold in making mistakes and make mistakes as quickly as possible so that you don't make the same mistakes in the future...", Mr. Vien shared.
Thanhnien.vn
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