Vietnamese-American tech firms in US yet to reach US$1billion status
Vietnamese-born Americans have gained encouraging achievements with their technology firms in the US but none of the startups have reached unicorn status, or a US$1billion valuation.
In the past, there were very few startups reaching that value, but the number has been increasing rapidly recently.
According to CB Insights, there are 169 startups listed as unicorns with total value of over US$600 billion, including 97 startups in the US.
However, none of the 97 startups is owned by Vietnamese-born businesspeople.To date, Dung Tan Trung remains one of the most successful startups owned by a Vietnamese-born American in the US.
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In 1999, On Display had an IPO (initial public offering) and was listed in the top 10 companies with record IPO successes in the US at that time.
Trung’s success was praised in many prestigious newspapers and journals such as Forbes, Fortune, Financial Times, Wall Street Journal and San Francisco Chronicle. He was also included in The American Dream by Dan Rather.
Arimo aims to provide sufficient Big Data solutions to all customers, including software engineers and normal users. Right after the demo was introduced, Arimo successfully called for capital worth US$13 million from investors, including the Andreessen Horowitz fund.
In addition, GotIt! By Tran Viet Hung, which allows users to solve questions via smartphones, is also a technological solution that has caught special attention from the public.
