CyberAgent Ventures, Inc. (Headquarter: Tokyo, President & CEO: Soichi Tajima), a subsidiary of CyberAgent, Inc. (Headquarter: Tokyo, President & CEO: Susumu Fujita) announces to invest in Foody Corporation (Headquarter: Ho Chi Minh City, President & CEO: Dang Hoang Minh), a Vietnam-based startup which operates www.foody.vn, an online gourmet searching & user-review media.
Foody.vn was launched in August this year, and is the fastest growing online gourmet searching & user-review media in Vietnam. Only 3 months after launching, Foody.vn has reached over 10 thousand restaurants, over 5 thousand reviews. The fund will be used primarily to facilitate further growth of its users and contents.
As there is a void for this type of media in Vietnam and successful business models have been executed off by existing gourmet searching & user-review media in Japan and China, CyberAgent Ventures believes that Foody has strong potential to become the leading media in such kind of content in Vietnam and will take advantage of CyberAgent Inc.’s wide network of resources to enhance the company’s growth and value.
CyberAgent Ventures is the venture capital arm of Tokyo-based CyberAgent, Inc., and is expanding its business in the South East Asian market. The investment noted above is made through CA Asia Internet Fund I, L.P. – a venture capital fund specialized in the South East Asian market.
■Company Profile of Foody Corporation
Company Name: Foody Corporation
Established: June 2012
President & CEO: Dang Hoang Minh
Official URL: http://foody.vn
iOS app: https://itunes.apple.com/app/id570435154
■Company Profile of CyberAgent Ventures
Company Name: CyberAgent Ventures, Inc.
Address: Akasaka DS bldg .3F, 8-5-26 Akasaka, Minato-ku, Tokyo, Japan
Established: April 3, 2006
Capital: JPY 360 Million
President & CEO: Souichi Tajima
■For further information, please contact
CyberAgent Ventures, Inc.
Ho Chi Minh Representative: Mr. Nguyen Manh Dung
Address: 1F Sommerset Chancellor Court, 21 – 23 Nguyen Thi Minh Khai street, District 1, Ho Chi Minh City, Vietnam