GoStream, a fast-growing Vietnamese startup that provides multi-platform livestream broadcaster solutions for social sellers, marketers, and content creators, announced that VinaCapital Ventures has invested a seven-digit figure in the company to help expand its business.
|GoStream will use the new tremendous funding to expand operations |
GoStream was founded in 2017 by three seasoned engineers with track records in digital enablement. GoStream is an easy-to-use platform for any type of user, even for those with little or no technical knowledge. It enables users to reach a larger audience from different platforms to increase visibility and get more views. Currently, the company is serving multiple corporate clients and facilitating over 100,000 livestreaming sessions daily.
GoStream is dedicated to providing an interactive experience that encourages viewer participation in live videos. This increases viewer engagement and contributes to the building of a larger and more loyal community that follows a user’s content.
Marketwise, social networks are recognised as the next most common channel for online shopping in Vietnam, just behind e-commerce sites. According to PwC Social Surveys, Vietnam ranked seventh in the world in the number of Facebook users (68 million) which accounted for 68.7 per cent of the country’s entire population. In 2020, Vietnam’s “digital economy” reached $14 billion and is expected to grow to $52 billion in 2025, according to a recent report by Google, Bain & Company, and Temasek.
Trung D. Hoang, partner at VinaCapital Ventures, commented, “We are excited to invest in GoStream, which has been leading the way in integrating livestreaming 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 digitalisation.”
In November 2020, GoStudio – a product of GoStream Technology JSC – won first prize at Vietnam Techfest 2020. The contest’s organising committee recognised the product’s ease-of-use and adaptability to a range of online channels, including social commerce (livestream commerce), online training (e-learning), online entertainment (live gameshows). This became especially important as the COVID-19 pandemic swept the world. GoStudio does not require software downloading or installation and it is stable and compatible with popular web browsers, enabling more users to apply livestreaming across various sectors.