Nguyen The Tan, Director General of VCCorp – the network’s developer, said at a press conference on September 9 that the project has mobilized more than VND 700 billion (USD 30.2 million) from VCCorp and some domestic investors.

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Customers experience Lotus' Beta version (Photo: viettimes.vn)

In the initial stage of Lotus, the firm will raise another VND 500 billion to promote the network on its long-term development path, Tan added.

The project has been developed by over 200 Vietnamese engineers working in various fields like artificial intelligence, big data, data mining and image processing to design and operate a social network of Vietnamese people.

He further said Lotus is created not to defeat others but focus on the contents for which existing social networks haven’t met demand.

It will be made public in two forms, on the website at www.lotus.vn and mobile app.

Source: VNA