21:13 (GMT +7) - Wednesday 20/11/2019

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Intracom Group invests in Triip

Released at: 21:07, 06/09/2019

Intracom Group invests in Triip

Photo: Ngoc Lan

Group secures 6.66% stake in tourism startup.

by Ngoc Lan

The Intracom Group officially signed an investment contract with Triip, a startup applying blockchain technology in tourism, on September 6 in Hanoi, with $500,000 outlaid for a 6.66 per cent stake.

Mr. Nguyen Thanh Viet, Chairman of the Intracom Group, said that in addition to harmony in development orientations and corporate cultures, he also appreciated Triip’s staff and professionalism during the due diligence process. “The startup has all the factors needed, so I decided to invest early so they can seize the opportunity, because technology application needs to move fast to dominate the market,” he added.

Mr. Ho Hai, Co-founder and CEO of Triip, said its vision for the next five to ten years is to complete the Triip app, develop its user base, and increase the quality of its services. “With the support of Intracom, the Triip team is deploying many items,” he said. “We hope to achieve results as planned.”

With its investment in Triip, Intracom showed itself to not only be a financial investor but also a strategic investor, bringing blockchain technology applications to the forefront of development trends in the future.

The startup saw 122,000 downloads in its first three months, of which 35 per cent of users return every day and more than 15,000 share their itinerary. Revenue in 2018 reached $1.4 million, with 6,000 tour guides and customers from 133 countries and territories.

Intracom was founded in December 2002 with 100 per cent State capital. It has operated in the field of real estate construction investment, clean energy, building materials, construction and installation.

It has also invested in many high-rise and office buildings in Hanoi, including Intracom 1, Intracom 2, and Intracom Riverside, contributing to creating a peaceful living space and addressing the urgent need for housing among people on medium and low incomes. It has also expanded investment in recent years into the healthcare sector, with the incorporation of the Phuong Dong General Hospital. In the near future, it will promote investment in the development of clean agriculture and resort services, among others, to constantly improve and enhance people’s lives.

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