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Coc Coc plans to raise funds

Released at: 17:08, 24/12/2019

Coc Coc plans to raise funds

Photo: Minh Do

Browser and search engine company seeking funds to reach target of 30 million mobile users next year.

by Minh Do

Coc Coc, a Hanoi-headquartered browser and search engine company, plans to raise more funds and raise its targets.

CEO Jean-Paul Schmetz told a media gathering on December 17 in Hanoi that, in 2020, Coc Coc aims to reach 30 million mobile users, from 24 million now. It will focus on the mobile platform and partner with the government and local publishers.

The startup was co-founded in 2010 by three Vietnamese developers and the Russian Victor Lavrenko, who are now stakeholders. In 2015, German media company Hubert Burda Media, which owns 450 publishing media, invested $14 million in Coc Coc, which is considered a rival to Google in the country. Total funding from two Russian companies and Huber Burda Media was $30 million.

The company currently accounts for 18 per cent of the browser market share and 3.5 per cent of the search engine market share in Vietnam, according to Google Analytics, and has now reached 10.2 million users on both iOS and Android. “Coc Coc is growing based on three strategic pillars: understanding local users, applying the most advanced technology, and building a comprehensive ecosystem. Our mission is user first,” he said.

Last April, it launched the Coc Coc feature for reading news that currently has 4.2 million users and 135 million visits to news sites, helping to increase the time the browser is being used by 10 per cent.

Deputy CEO Ms. Dao Thu Phuong said that, in the time to come, in order to attract users, Coc Coc will continue to upgrade existing features such as Coc Coc news reading, file downloading, spell checks, wallpapers, and clearing tabs.

The company will also develop new features for entertainment, such as Coc Coc Music, an annoying ad filter, searches for football and new movies, the lunar calendar, and Vietnamese culture.

Officially launched in 2013, Coc Coc is one of the first browsers to apply artificial intelligence and machine learning in Vietnam.

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