I don’t remember which year, around 2012, I only knew that the summer sun was so hot in Saigon that Tien Tien could not turn summer into winter …

Appointed to meet H. Tran, Business Development Manager of Yahoo Asia Pacific (APAC) with her husband to visit Vietnam, at Sheraton …

– Sister, why doesn’t yahoo do anything in Vietnam?
“The market is too small, Yahoo doesn’t care”

It is a true story between me and Ms. H. Tran, networking through Linkedin … After that statement, I thought “Yahoo is out of time”.

In late winter 2014, Yahoo announced a simultaneous closure in Vietnam, Indonesia, Malaysia … transferred some key personnel to Singapore’s Singapore headquarters.

Now in 2019, more than half of the Vietnamese population uses Facebook, young people, the elderly are lonely and children, nobody knows about Facebook.

So ten years ago, 2009, generation 7x, 8x Vietnam no one did not use Yahoo! Blog 360.

On November 19, 1997 Vietnam officially joined the global Internet. Across the Atlantic Ocean Yahoo! Messenger first version was born in 1998 in the United States of America.

From the 2000s onwards, in Vietnam began to have Yahoo! The first Messenger with the nickname boy_lanh_lung_va_co_don; thuy_thu_mat_trang …

Yahoo Messenger surpassed 120 million users in 2009, from which it flourished until the release of OTT applications.

Over 20 years of operating history with the glorious days, until July 17, 2018 Yahoo! Messenger officially closed.

Global technology circles look at Yahoo’s development roadmap and release the word “Idiot”.

“Idiot” according to Oxford Dictionary means “a stupid person” but actually the word originated in ancient Greece does not mean stupid but refers to people who are not interested in politics.

Old Wall Street wolves do politics, not economics. Politics is a higher level of economy in economics.

Should say Yahoo! idiots are people who don’t care about politics.

In 2002, the internet giant refused to buy Google for only $ 3B.

In 2006, Yahoo continued to miss the opportunity to buy Facebook for about 1.2B USD.

That same year, at a five-star hotel in San Jose, California, Yahoo held a party for the company’s leadership. That party everyone talked about the brand positioning of internet giants, including Yahoo.

When asked, with just one word (compound) to locate the brands in the industry …

mentioning Google, people saying “Search engine”,
mentioning Intel, people saying “Chip”,
mentioning PayPal, people saying “Payment”,
mentioning Microsoft, people say “Computer OS” …

Then, the moderator, a senior director, was drunkenly asked, “What the f @ ck is Yahoo?”

Some say “mediaportal”, some say “news”, “social network”, some say “email”, then “search engine” …

So are we a technology company or a media company?

No one answered, the director ended his question pool, but the answer was the question that just asked, “Yahoo is … what the f @ ck is Yahoo?”

Since the end of the night, Yahoo has plummeted according to line chart reports.

Yahoo had the opportunity to acquire YouTube, Skype but missed.

Most painful, in 2008 Microsoft offered to buy Yahoo for $ 45B but yahoo refused.

Nine years later, on Tuesday, June 2017, Yahoo decided to sell itself to Verizon for just $ 4.5B.

$ 100 in 2009, compared to purchasing power parity, in 2017 was $ 114.26.
So, how much is 45B USD?

Verizon bought Yahoo to merge with AOL to build a media empire called “Oath:”

It was from this moment that Yahoo was defined as a “media company”, the deal finally explained to the world what Yahoo’s model was.

After five years of steering the sinking boat, June 13, Dinh Dau, the 2017 perpetual calendar, the beautiful Marissa Mayer stepped out of Yahoo and left the door behind her. The day Yahoo had its last party with Verizon.

Yahoo should have been a social network when it had a great advantage from Yahoo! Messenger, Yahoo! Search, Yahoo! Blog.

Social network Yahoo Blog with the name Yahoo! The 360 ​​° blog was launched on March 29, 2005 and has been discontinued since July 13, 2009 globally.

In Vietnam at that time there was only Yahoo so all netizens had a blog site, thanks to my blog, I found a lover, connected friends to start a startup …

Social media is a place for people to share their thoughts and voice. If not, then not social networks. What about connecting with friends? It is a natural thing to succeed.

Yahoo! 360 ° blog closed, Yahoo continued to develop Yahoo! Pulse and Yahoo! 360Plus. The blogger community is moving home.

A part of users moved up:

# 1 First-generation social network: Platform platform (vBulettin, PHP forum …)

During 2009-2010, the most prominent forums in Vietnam were: Tamtay (Fingertips), Yume, Yobanbe (Yo Friends), Truongxua (Old School), TTVNOL (Vietnam Heart Online), Tinhte (Delicate) , Voz

These pages are based on the core forum forum model. The most important thing for a forum is to set up clubs. At the moment the strongest is still TTVNOL.

The first generation social network is a one-way social network, in the form of a “centralized pool” with subpage according to topics, threads, and content managers.

A thread creator, members join in the comment. Mods (moderator) and admin (administrator) that do not like or violate the club rules are deleted.

The forum pages at that time always tried to attract the user community from Yahoo but failed, later, more than 90% closed.

Only the social networks of the first generation niche market exist until now, the largest has always been Tinhte, Voz. People call Tinhte a community and no one calls a social network.

The biggest model of a club is a community. It can be said that Tinhte is a technology forum community page. Tinhte, Voz represent the final version of the first generation Social Network in Vietnam.

Next is:

# 2 Second-generation social network: Web 2.0 platform

Led by ZingMe (VNG), the second is Go.vn (VTC Online)

It is understandable now that the big guys have the potential of technology and finance, building their own web development and MXH development team with their own core on the web 2.0 platform.

In the middle of August 2009, ZingMe was launched. ZingMe’s mission is to replace Yahoo and compete with Facebook. ZingMe was born based on “influencers” who are famous singers like Dan Truong, Lam Truong, Phuong Thanh … at that time to attract fan clubs to build a community …

But in the end, it failed to convert the model based on my core business to the gamers community. Social network for gamers.

Parallel with ZingMe, but at the top of the Hanoi Bridge, on the occasion of Uncle Ho’s birthday in 2010, VTC Online officially press the launch button of Go.vn pure Vietnamese social network with a 5-year plan.

VTC Online has a large base of digital television, so the stylized logo of Go.vn includes 3 screens: Mobile, PC and TV. The three interlocking screens mean that users of all three hardware platforms including smartphone, personal computer and television are integrated on Go.vn.

On May 26, 2010, Mr. Nguyen Lam Thanh, Deputy Director of VTC Intercom Company, Go.vn’s holding company, press conference announced that Go.vn will defeat Facebook. VTC Online plans the first 5 years and is also unique for its journey, so the next five years also left because the plan was completed.

Only up to that time, it can be said that ZingMe is a Vietnamese social network that claims to compete directly with Facebook and do it, even in a short time. September 23, 2009 ZingMe reached 945,000 users, more than 918,000 Facebook users.

However, from 2010 onwards, the heatmap (heat map) of Vietnamese social networks drawn by Facebook has occupied more than 70% of the market share. And ZingMe followed and faded with the years. Finally pivoting into a social network for gamers.

“This loss we show another glue” that is the resilient will of VNG. On August 8, 2012, VNG planned to build,

# 3 Third-generation social network: OTT platform

OTT (Over-The-Top) app is the application that provides and transmits content including characters, audio, images, videos, end to end. ISPs (Internet Service Providers) do not have the right to interfere with the content of transmission and service charges based on data being streamed and buffering on end-users devices. The most popular are free messaging, calling and video call applications like Viber, Line, Kakaotalk, Zalo …

If I remember correctly, an SMS in 2013 cost about 300 VND, a hundred messages is 30000 VND, a time to send a message to your lover is faster than making a call. Zalo was born to provide free messages and calls, only idiot does not want to use, those who do not care about politics.

So far, only Zalo is the social network (MXH) that has a foothold in the market, along with Facebook.

MXH in Vietnam is really very difficult, because MXH is a UGC (User generated content) platform, so it takes a long enough time and the cost of operation and maintenance is durable enough to do only one thing: increase switching cost.

Only the social network model can we discuss switching costs as users build their own asset assets on social networks, the rest are fun, because it’s a benefit-centric for users.

In order to increase switching cost, the most important factor is time. If for each user as a tree, planting the tree takes time to root, when the tree has rooted then it is difficult to grow and grow elsewhere. Because it takes time for MXH, the cost of operation is extremely large, much bigger than e-commerce, saying so because e-commerce is a two-way cash flow. And MXH only has one side cash flow.

Zalo without the VNG back is not available today and today, MXH is going to a new page,

# 4 The 4th generation social network: Fintech platform.

If we notice, all companies that currently do MXH rely on backbone as fintech.

VCCorp is a Lotus social network.
G-group is the Gapo social network.
Viettel continues to develop Mocha social network …

But now making social networks is different, if you do not have an electronic wallet, you should not do it.
Why do I say so?

Written by Hung kaka
Editor: Doocvii