Strange services and huge assets of tycoon Cao Toan My

As one of the founding shareholders of VNG, Mr. Cao Toan My once owned a large number of shares of this online game company. In 2008, VNG could be valued at 100-200 million USD, meaning that Mr. My earned 5-10 million USD, equivalent to hundreds of billions of VND when divesting all of his shares.

Mr. Cao Toan My

Cao Toan My, the tycoon involved in a 16.5 billion VND "love contract" with Miss Vietnam in Russia Truong Ho Phuong Nga, is known as one of the founding members of a game company in Vietnam, currently operating in the fields of providing Internet services, software publishing, commercial advertising and electronic game business.

Before holding the position of General Director of Vina Cyber ​​Network Joint Stock Company - Vina Cyber ​​(a company with a charter capital of 10 billion VND, 95.25% owned by Mr. Cao Toan My), Mr. My was one of the four founding shareholders of Vinagame - now VNG Joint Stock Company, the largest online game company in Vietnam.

Specifically, VNG was established in 2004. At that time, Mr. Cao Toan My, Mr. Le Hong Minh, Mr. Trinh Bao and Mr. Nguyen Thanh Binh contributed 4.5 billion VND. Of which, Mr. My contributed 750 million VND, equivalent to 16.7% of shares and Mr. Le Hong Minh contributed 2.62 billion VND, equivalent to 58%.

As one of the pioneers in the online gaming industry, and having quickly raised capital from large investment funds such as IDG Venture, VNG has grown rapidly, with profits reaching several hundred billion each year. At its peak in 2012, VNG's profits even reached over 1,000 billion VND.

Through the capital increase and offering of shares to foreign investors, VNG’s value has increased rapidly but the ownership ratio of the founding members has decreased significantly. For Mr. Cao Toan My, the ownership ratio may be down to about 4-5%.

However, Mr. My and two other founding members left VNG quite early, around the beginning of 2008.

According to some experts knowledgeable in the technology field, in 2008, VNG could have been valued at 100-200 million USD; which means Mr. My could have earned 5-10 million USD, equivalent to hundreds of billions of VND when divesting all of his shares.

At its peak, VNG was valued at up to a billion dollars. According to the latest transactions, the value of this company is about 700-800 million dollars. If Mr. My had sold his shares later, the amount of money he would have received would have been much higher.

Internet photo

Quit gaming, tycoon creates "strange" service

After leaving VNG, Mr. My did business in many fields such as management, labor supply; information technology; internet friendship service; road passenger transport; real estate trading; model and actor selection service,...

VinaCyber ​​Company, with Mr. My as General Director, was established in September 2006, headquartered in Ho Chi Minh City, providing many services and products such as Lunch Date, Speed ​​Dating to connect single men and women.

For example, with the virtual lunch date social network, VinaCyber ​​targets young office workers, helping them make friends online and meet in person. However, at the present time, this website is no longer active.

Speed ​​dating is a service built on a series of small personal dates. A speed dating event usually lasts 2-3 hours. The most important part of the event is the dating, each individual will have 10 to 15 dates with the opposite sex with a duration of 3-6 minutes for each date.

In each date, participants only have 3 minutes to express themselves to the other person. During this time, participants will have to find a way to impress and choose a suitable partner.

According to VinaCyber, over 50% of Speed ​​Dating participants are "office workers" - people with stable jobs but busy lives and a same-sex working environment.

This type of dating is quite popular among young people in the UK, US, and Australia. In Vietnam, "Speed ​​dating" has been initiated from some activities and exchanges, but VinaCyber ​​JSC is the first unit to organize this type of dating as a service.

Speed ​​dating in Vietnam is held at cafes with romantic, quiet spaces while in other countries it can be cafes, restaurants or even Night Clubs.

In addition to the above two services, Mr. My's company also established a recruitment website in the fields of fashion, cinema, music and modeling. This website allows each recruiting unit to use a mini-website to manage recruitment information, post company images, and manage candidates in groups. However, this address is no longer active.

According to Vietnamnet