- Media
Peacesoft Solutions Corporation Receives First Round of Funding from IDG Ventures and Introduces CHODIENTU.COM
Ho Chi Minh city, Vietnam – March 25, 2004
PeaceSoft Solutions Corporation announced today that the company has secured first round funding from IDG Ventures. These funds will be used to continue to develop the company’s existing products, expand its market reach, and accelerate the development of CHỢĐIỆNTỬ.COM (‘e-Market’), its online classified listings site which will serve as an innovative platform for future E-commerce development.
PeaceSoft also has announced that the Managing General Partner of IDG Ventures Vietnam, Mr. Nguyen Bao Hoang, will join PeaceSoft’s Board of Management. ‘We are excited to have the validation of our business model and activities with funding from IDG Ventures. We also look forward to having Mr. Hoang join our Board of Management. We believe IDG Ventures will be able to help us reach our strategic goals more quickly and serve as a great partner in assisting us in the execution of our business plan. They bring not only capital, but a tremendous team that will help us throughout all aspects of our business,’ said Mr.Nguyen Hoa Binh, PeaceSoft President & CEO.
Regarding CHỢĐIỆNTỬ.COM, Mr.Binh added, ‘To transact business efficiently over the internet, we have to overcome several barriers that hinder the development of E-commerce in Vietnam: payment method, shipping, technical challenges as well as lack of trust and current habits of Vietnamese consumers.’ With additional support from IDG Ventures, PeaceSoft looks to take a leadership position in the development of E-commerce in Vietnam. By creating an environment that is useful for the Vietnamese consumer, PeaceSoft will generate an increasing number of transactions over the internet and make people more comfortable with E-commerce.
About CHODIENTU.COM
CHODIENTU.COM is an E-commerce platform which PeaceSoft has been developing for the past three years. The site aims to be the premier online marketplace and classified listings where individuals can come online to buy and sell new and used goods. It is oriented towards the Vietnamese consumer and will allow consumer-to-consumer (C2C) transactions with greater ease and trust. www.chodientu.com and www.chodientu.com.vn will be easily searchable and contain useful product and user information. It will be a community where transactions can easily done with a high level of trust.
Mr. Nguyen Hoang Long, the project’s chief technical architect, said, ‘CHỢĐIỆNTỬ.COM is built upon a open and highly scalable framework. The site was developed from scratch by PeaceSoft’s internal team and has the technical sophistication of global portals such as Yahoo or MSN.’ In explaining the meaning of the site’s slogan, ‘Cần gì? – Có nấy!’, PeaceSoft’s Director of Marketing, Ms. Dao Lan Huong, said, ‘The site is totally aligned with our company’s central strategy of E4, ‘Everything Everywhere for Everybody Every Time’ – which represents total access and availability. We hope to make online transactions so simple that visting CHỢĐIỆNTỬ.COM is as easy and commonplance as shopping at a real market or mall.’
About IDG Ventures
IDG Ventures is a global venture capital firm with approximately $700 million under management and a portfolio of over 125 companies built over the last 12 years. The fund pursue investment opportunities across a broad array of technology industry sectors including enterprise software, communications software, Internet enabling software, wireless technologies and services, IT-related technologies and services, and biotechnology. With offices in Boston, London, San Francisco, Seattle, and throughout China and Vietnam, the firm invests in early-stage companies, partnering with entrepreneurs to build category leaders. The firm’s limited partner, International Data Group (IDG), is the world’s largest IT media, research, and eve