VinaCapital invests further in live video streaming startup
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A Vietnamese startup that provides multi-platform Livestream service for social sellers, GoStream, has received a second round of investment from venture capital firm VinaCapital Ventures.
But it has not disclosed the value of the investment.
GoStream has completed its series A funding worth $1 million, co-founder Nghiem Tien Vien said last November at the 2020 TechFest Vietnam, a national festival for innovative startups.
VinaCapital Ventures CEO Hoang Duc Trung said GoStream is the leading company in integrating live streaming across a number of sectors.
“Their innovative streaming technology is helping more businesses reach more viewers and customers, and we look forward to working with them as they further expand their capabilities and play an even greater role in Vietnam’s growing digitization.”
Founded in 2017, GoStream is a simulcasting live video streaming platform serving multiple corporate clients and facilitating over 100,000 live streaming sessions daily.
Its product, GoStudio, won the first prize at the Vietnam TechFest and will represent the country at the 2021 Startup World Cup contest in the U.S.
In 2019, GoStream made it to the top 30 most used live broadcasting applications on Facebook.
It received $200,000 in seed funding from VinaCapital and the startup accelerator program Zone Startups Vietnam.
Questions & Answers
Q.What is the purpose of the additional investment made by VinaCapital Ventures in GoStream?
What is the purpose of the additional investment made by VinaCapital Ventures in GoStream?
VinaCapital Ventures CEO Hoang Duc Trung stated that the investment aims to help GoStream expand its capabilities. They want the company to play an even greater role in Vietnam's increasing digitisation, reaching more viewers and customers.
Q.When did GoStream secure its Series A funding and what was the reported value?
When did GoStream secure its Series A funding and what was the reported value?
GoStream completed its Series A funding round in November of last year. Co-founder Nghiem Tien Vien stated at the 2020 TechFest Vietnam that this funding round was valued at $1 million.
Q.What is GoStream's main product and how has it been recognised?
What is GoStream's main product and how has it been recognised?
GoStream's main product is GoStudio, which won first prize at the Vietnam TechFest. This achievement means GoStudio will represent Vietnam at the 2021 Startup World Cup contest in the U.S.
Q.What was GoStream's initial funding and who provided it?
What was GoStream's initial funding and who provided it?
GoStream initially received $200,000 in seed funding. This early investment came from VinaCapital, along with the startup accelerator programme Zone Startups Vietnam, in 2019.