Tai Tran, in his response to my previous post on “Start-ups: One or No One?”, supported the idea that a start-up should “spread its efforts and pave ways for innovations & success”. I would say we should all look at what Google did a few days ago when it became a “serial killer” of its 6 services.
We now turn our focus to VCCorp and the start-ups I mentioned in my article. They work similarly to the way a VC operates: spread their investments in various start-ups/products and wait for one of them to take off and pay off.
VCCorp’s cash cow: the Dan Tri online newspaper, is currently making money to pay for many of its services which are still yearning for profits. On the other hand, VCCorp is seeking investments from IDG to pour their resources into a wide (about 20) range of products. It strikes me that VCCorp also raises money from IDG for specific products that have high potential of growth in future.
With the newly-launched Admicro, VCCorp is hoping to turn its portfolio products into more cash cows. Hope, that is.
In a Vietnamese article “Challenges 2009“, TanNg, the second person of VCCorp has made it clear that they have no intention to cut projects, because passion and innovation shouldn’t be overlooked. Though I wonder whether operating as a mini-VC is a sustainable model in Vietnam.
What’s your take?