Shark Binh's technology career

Having started a technology business for more than 20 years, Shark Binh’s NextTech has many famous products such as Nganluong and mPOS. However, he has also been involved in many controversies when investing.

Shark Nguyen Hoa Binh . Photo: FBNV .

Mr. Nguyen Hoa Binh, Chairman of NextTech, became familiar to the public after sitting on Shark Tank for many seasons. His frank and personal statements helped him become famous. Recently, Mr. Binh attracted attention when he encountered a scandal with the AntEx coin project, which was born 4 years ago.

As a technology entrepreneur, he and NextTech have a number of famous products. However, Mr. Binh has also failed many times, according to him, "almost went bankrupt 5 times".

Any array is available

Established in 2001 (formerly PeaceSoft), NextTech has developed into a digital technology ecosystem with more than 20 years of experience, operating in 4 main areas: e-commerce, fintech, e-logistics, and start-up investment. According to the introduction on the homepage, the company is present in 9 countries including Vietnam, China, Philippines, Cambodia, Thailand, Malaysia, Singapore, and Indonesia.

NextTech’s flagship product is the payment gateway Nganluong.vn, which the company claims to have the “largest market share in Vietnam.” In the financial sector, the company also has AlePay, a card payment solution, and Vimo, a domestic wallet. However, these products are not popular with end users.

Part of NextTech's product and investment portfolio. Photo: Nexttech.

mPOS.vn, a mobile payment platform, is widely used. NextTech also participates in the enterprise software segment with NextPay, supporting human resource management, capital...

In the e-logistics segment, Shark Binh’s company has Boxme, a transportation solution in Southeast Asia, which has been advertised by the entrepreneur many times on Shark Tank. HeyU and FastGo aim for the market share of food delivery and transportation applications like Grab and Be but are no longer on the market.

In addition, NextTech also operates as an investment fund. Mr. Binh invested in TopCV, Shcola, Coolmate, Ladipage, Myspa. In which, the Coolmate deal was made through the Shark Tank program. The company's website currently no longer has cryptocurrency products. However, this is also the area that NextTech invested in and promoted in 2021.

Despite having a large product portfolio, not all of NextTech’s products or investments are successful. Only a few models such as Nganluong.vn or mPOS have made a clear mark on the market. The ride-hailing app FastGo or the digital currency NextTech “sponsored” are Mr. Binh’s obvious failures.

Failure, scandal

Amidst the AntEx controversy, the businessman livestreamed a discussion about leadership culture at noon on October 6. However, he refused to discuss cryptocurrencies, saying “it has already been made clear.”

Mr. Binh said he has been in business for 24 years and started with 2 million VND, almost went bankrupt 5 times before surviving. Therefore, he wants to share his experiences on issues in business and life.

In the early stages, Mr. Binh’s business operated in a 10-15 m2 office, without money to pay salaries. Later, the businessman got involved in real estate and stocks but “lost immediately”.

AntEx got Mr. Binh into trouble.

The most painful failure for Mr. Binh himself was opening an e-commerce platform in 2013. The company could not compete in terms of capital with other competitors in the market. He compared his business to "a guerrilla army full of swords, sticks, spears and halberds" fighting "B52 planes and aircraft carriers".

Although not mentioned in the livestream, the incident with NextTech could cause Mr. Binh a lot of trouble. Talking to Tri Thuc - Znews , many people who lost money because of this cryptocurrency have filed criminal complaints to the authorities. Hanoi City Police also said they are verifying, grasping the situation, and investigating. The authorities informed that they have received a complaint from a victim in Thai Binh province, with a loss of 2,000 USD .

Meanwhile, speaking to Tri Thuc - Znews , Mr. Pham Hoang Anh, an AntEx investor living in Ho Chi Minh City, said that he had submitted an application through the national database, but had not received any response from the receiving side. This person confirmed that he had lost about 40,000 USD because of the above cryptocurrency project, waiting for the authorities to handle it and find the mastermind.

Source: https://znews.vn/su-nghiep-cong-nghe-cua-shark-binh-post1591451.html