The race among Vietnamese social networks is starting to become exciting but much needs to be done for them to develop. It was at 8am on September 21 at the National Convention Center in Hanoi and hundreds of people were queuing up to check-in for the launch ceremony of Astra, a Vietnamese tourism social network. Astra also signed investment cooperation deals with 22 venture investors at the ceremony, with capital of over $10,000 for each deal. Most notable was the $1 million investment from Mr. Pham Thanh Hung, Chairman of CenGroup. Astra expects to capture 5 per cent of the global online travel market in the next five years. Choosing a niche market like travel, Astra is the first social network to use the paying rewards model for users when they post content on its platform. Mr. Nguyen Tiep, CEO of Astra, said paying rewards to users through reputable reviews of destinations and travel services is a way to attract users to join the social network and encourage them to share their experiences and reviews with others. Mr. Hung said review models on tourism and services are increasingly popular around the world, such as TripAdvisor and Michelin, while Vietnam has… Read full this story
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