Tuesday,  Feb 19, 2019,00:02 (GMT+7) 0 0
Viralworks wins US$300,000 investment on reality show
By Chi Thinh
Friday,  Jul 6, 2018,12:04 (GMT+7)

Viralworks wins US$300,000 investment on reality show

By Chi Thinh

Sharks listen to presentations by startup project owners on reality TV show Shark Tank 2018 - PHOTO: SHARK TANK VIETNAM

HCMC – Startup project Viralworks received funds worth US$300,000, six times more than the initial target, on reality show Shark Tank, broadcast on July 4 on VTV3 channel.

Viralworks, which functions as a technology base, aims to connect brands with marketing influencers who conduct campaigns promoting a certain product or service. It operates by collecting information on influencers and proposing the data to brands, so they can choose the right person to market their products.

Initially, the startup’s founder, 26-year-old Le Hong Thao Quyen, called for an investment of US$50,000 for her project in exchange for a 5% stake in Viralworks. But Shark Nguyen Manh Dung, also known as Dzung Nguyen, a guest investor on the show, injected US$300,000 without hesitation to claim a 15% stake in the firm.

The Viralworks owner had prepared detailed statistics on internet users and social network browsing frequency in Vietnam for her presentation to the sharks. She also mentioned the potential competitiveness of Viralworks in the market.

Notably, Quyen’s plans attracted the interest of all five Sharks as they expressed their keenness to invest in her startup, with capital ranging from US$50,000 to US$100,000 for acquiring a 20-30% stake in the business.

Shark Thai Van Linh, for example, had, since the beginning, proposed to back the firm with an investment of US$50,000 for a 30% stake, while Shark Pham Thanh Hung offered double the amount for the same stake and pledged to fully support Viralworks.

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