Coc Coc: ‘Vietnam is ready to compete fairly with world technology giants’

As proof of this assertion, Coc Coc officially introduces the product duo Coc Coc AI Chat and Coc Coc AI Search to Vietnamese users.

Coc Coc officially launched AI Chat and AI Search.

Coc Coc side said that these are the first two products in the Coc Coc AI Lab ecosystem – the research and development department of artificial intelligence products founded by Coc Coc, with the goal of helping users enjoy more benefits from the digital space.

“Coc Coc wants to contribute to affirming that Vietnam is capable of mastering advanced technologies, ready to compete fairly with technology giants in the world. Coc Coc AI Lab will undertake the research mission, develop and integrate the latest and most convenient artificial intelligence (AI) applications on the browser and Coc Coc search engine, in particular, users will experience these applications completely. completely free”, the business side emphasized.

According to the introduction, Coc Coc AI Chat is a chatbot applying the Large Language Model (LLM), developed based on the GPT 3.5 model and data from Coc Coc search. As a result, the product is capable of providing fast, up-to-date and accurate written answers.

The outstanding difference of Coc Coc AI Chat lies in its ability to understand Vietnamese and flexibly and accurately handle query content with Vietnamese cultural characteristics – a limitation of most similar products on the Internet. market. Users can chat with Coc Coc AI Chat to consult answers on many topics, create content, handle language-related tasks such as summarizing and translating text.

With Coc Coc AI Search, this is a feature that provides answers by using AI to summarize content from results related to a user’s query, allowing users to get fast, accurate and accurate results. more secure without having to visit multiple websites.

“Instead of spending time reading and selecting information from many sources from conventional search engines, users only need to type the content they are interested in, Coc Coc AI Search will summarize and summarize information briefly from the search engine. reputable sources in only about 2 seconds”, the representative of this business emphasized.

Sharing about the future of products, Coc Coc General Director Nguyen Vu Anh said that the free integration of these two new products is just the beginning of the development journey of the Coc Coc AI Lab ecosystem.

“Coc Coc hopes to make AI technology closer and easier to use for Vietnamese users. We will continue to invest our efforts and resources to realize the larger goal of bringing Vietnam to the top. world AI map”, said Mr. Nguyen Vu Anh.

About Coc Coc- the “Google of Vietnam”

Coc Coc (formerly known as Co Rom+) is a browser for the Vietnamese market developed by Coc Coc Co., Ltd (Coc Coc) based on Chromium open source platform. This is a popular platform and is used by many other web browsers such as Google Chrome and Opera.

According to the introduction on the homepage, Coc Coc is the largest search engine and web browser in Vietnam. At the same time, it is also the leading advertising platform with more than 22 million users.

In 2015, Coc Coc was invested 14 million USD by Hubert Burda Media (Asia) and has quickly developed into a search service provider exclusively for Vietnamese people. However, this company continuously reported losses and its equity was always negative in the following years.

VietTimes data shows that, in the period from 2016 to 2019, although it still recorded a revenue of hundreds of billions of dong per year, Coc Coc only reported a profit once in 2017.

Specifically, in 2017, Coc Coc reported a profit of 16 billion dong, while in 2016, 2018 and 2019 reported a loss of 93 billion dong, 26 billion dong and 21 billion dong, respectively. 2017 is also a year witnessing a breakthrough in Coc Coc’s revenue growth with a value of VND 211.6 billion, an increase of nearly 60% compared to 2016.

However, revenue growth tends to slow down in the following years. This result does not seem to be commensurate with the revenue target of at least 8 times in the next 10 years that Coc Coc owners mentioned many times.

By the end of 2019, Coc Coc’s total assets reached VND 95.45 billion, down 12% compared to the beginning of the year; equity decreased by 21 billion dong to negative 62.2 billion dong.

Coc Coc was established in July 2012, the head office is located at HITTC building, 185 Giang Vo, Dong Da, Hanoi. The director and legal representative is Ms. Do Thanh Van Huong (SN 1982). Ms. Huong is still the name of Thanh Tien Trading and Construction Joint Stock Company.

In early December 2015, Coc Coc witnessed a big change in shareholder structure. In which, 99.75% of Coc Coc’s charter capital is held by Coc Coc Pte Ltd based in Singapore. The rest is owned by BNT Online Advertising and Technology Co., Ltd – a legal entity with the same address as Coc Coc’s head office. In October 2016, Coc Coc reduced its charter capital from 380.6 billion VND to 363.89 billion VND.

Before transferring its name to Coc Coc Pte Ltd, Coc Coc had 5 capital contributors: Nguyen Thanh Binh, Viktor Lavrenko, Pham Huy Dong, Le Van Thanh and Do Thanh Van Huong./.