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Dia Diem JSC receives investment from IDG Ventures Vietnam


Dia Diem JSC (which owns the website www.diadiem.com) announces the strategic investment of IDG Ventures Vietnam. Website diadiem.com, the first online map and direction service in Vietnam, will use the capital and strategic support to enhance its services and expand map coverage to all 64 provinces of Vietnam.

“We are pleased to formally announce this partnership,” said Tom Tran, founder and chairman of Dia Diem JSC. He added, “IDGVV definitely brings a lot of experience, technology, and people power. Together we hope to build a Dia Diem company that can provide useful location-based service for everyone, from the individual consumer to the largest business enterprise.”

“From day one, the Dia Diem team knew they were undertaking a difficult task: mapping the complex and ever-changing street system in Vietnam. Yet there is something very rewarding and exciting about creating an online portal that serves a basic need such as helping people know how to get from A to B. We believe e-commerce, GPS devices, and B2B portals will benefit from Dia Diem technologies as well. We share this excitement with Dia Diem team and fully support them to reach strategic milestones” said Pho Pham, the Associate who leads the Dia Diem JSC investment and portfolio management.

Overview of Dia Diem JSC

Vietnam’s first online map publisher and free Web mapping service founded by Tom Trần, a Vietnamese American who had a passion for geographic information system (GIS).  Thắng and his team began mapping the complicated streets of Ho Chi Minh City back in 2000, painstakingly recorded every street corner and alley while traveling on scooters. Now covering 24 cities in Vietnam, diadiem.com also has a propriety direction-finding engine and online directory service.

Dia Diem will launch its services for all 64 provinces by mid-2008. Among its upcoming features will be a robust and customizable API (Application Programming Interface) for online businesses to easily integrate maps onto their websites.

For further information, pls contact:
Ms. Trang Hua
Operations Manager, DiaDiem JSC
197 Lý Chính Thắng, phường 7, quận 3, Thành Phố Hồ Chí Minh
Điện thoại: (84 8) 935 1112
Website: www.diadiem.com
Email: trang_hua@vinahomes.com

About IDG Ventures

IDG Ventures is a global network of venture capital funds with over $2 billion under management and a portfolio of over 220 companies built over the last 15 years. The IDG Ventures network is comprised of six independent partnerships managing funds in North America and Asia. Each partnership makes investments on behalf of its limited partners, including International Data Group (IDG), the world’s largest IT media company. By combining the IDG platform – an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources – with years of hands-on experience in early-stage company building, each IDG Ventures fund helps companies understand their markets better and penetrate them faster than their competition.

With partnerships in Boston, San Francisco, India, Korea and multiple locations throughout China and Vietnam, the IDG Ventures network offers the international perspective and the local market expertise to help companies grow from start-ups to global success stories. Previous investments by the firm include Excite, F5 Networks, Netscape, Spinner.com, VA Linux, and Baidu.com.

Founded in 2004, IDG Ventures Vietnam (IDGVV) is the first American technology venture capital fund in Vietnam. With $100 million under management, IDGVV invests primarily in privately-held, early to middle-stage technology, media, and telecom companies in Vietnam and Southeast Asia. The Fund works closely with the diverse, high growth companies in its portfolio and provides deep support to its entrepreneurs. IDG Ventures Vietnam has invested in a diverse portfolio of leading technology firms including: VinaGame, VinaPay, iSphere, Goldsun Focus Media, Vega, MSS, YeuAmNhac, DreamViet,…

For further information, please contact:

Ms. Duong Thu Huong
Operations & PR Manager, IDG Ventures Vietnam
SunWah Tower, Suite 1108
115 Nguyen Hue St., District 1, Ho Chi Minh City, Vietnam
Tel: +84 8 827 8888
Fax: +84 8 827 8899
Website: www.idgvv.com.vn/en
Email: thuhuong_duong@yahoo.com