Japanese enterprise acquires 30% of Vietnamese ecommerce site Hotdeal

Japan-based outsourcing Transcosmos has acquired 30 percent of Vietnamese daily deals site Hotdeal.

This belongs to Transcomos‘s extension plan in ASEAN. “I strongly believe that the strategic tie-up with transcosmos would be a breakthrough for Hotdeal.vn in improving our quality of services, and to strengthen business expansion in Vietnam and the South East Asia’s fastest-growing market” Mr. Nguyen Thanh An, CEO and founder of Hotdeal said.

He also optimizes that the cooperation will promote Hotdeal to larger markets – where international brands are involved. Established at the end of 2010, Hotdeal claims to operate the largest daily deals site in Vietnam, with 3.1 million unique monthly users and about 2.5 million members.  It also owns travel site yesgo.vn.

Transcosmos, launched in 1966, has had presence in 34 countries around the world by offering its e-commerce service to deliver products and services of client companies. In 2014-2015 it recorded revenue of $1.68 billion and profit of $62 million.

Source: vnexpress