Mamba, one of Russia’s oldest dating services, is set to enter the Vietnamese market, RB.RU has learned. The company sees growth potential due to low competition in the country among dating services. RB.RU experts estimated that Mamba’s budget for entering a new market amounts to one million dollars.
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The company filed an application to register the Mamba trademark in Vietnam on June 20, a document published in the World Intellectual Property Organization (WIPO) database.
Registration classes: 35 (services related to business management), 38 (data transmission services), 41 (services whose purpose is the amusement, entertainment and recreation of people), 45 (dating services, social networking services).
Andrey Bronetsky, CEO of Mamba confirmed to RB.RU its intention to enter a new market, but noted that at the moment the company is not ready to announce plans and the amount of investment to grow in Vietnam, as it is currently in the market research stage.
“We will be ready to announce a specific promotion strategy and the volume of cash injections no earlier than January. We chose the Vietnamese market because it is quite large, inexpensive and has growth potential. It is absolutely non-toxic for the Russian dating app and at the same time uncompetitive: local players occupy a very small share and Tinder is not interested in this market,” Bronetsky said.
Founder of the analytics platform Dsight Arseniy Dabbakh He notes that Vietnam seems to be an interesting market not only for dating. “Recently, some Russian companies have entered or are planning to enter the markets of Southeast Asia and Vietnam. This is in the field of financial technology, development and more,” Dabbagh said.
According to the expert, this is due to several reasons: a large population (up to 100 million people), a friendly country, a growing market with little competition: “With the growth of the middle class, the proliferation of smartphones and Internet access, more and more Vietnamese are using online services and dating apps and sites are becoming popular.”
Bronetsky confirmed that Mamba does not really see any obvious problems for a successful localization. The company explains this by saying that “Vietnam is not a Muslim country and online dating can develop there quite successfully.”
Co-founder of United Investors Alexander Gorny He suggested that the company’s investment to enter a new market will amount to up to 1 million USD, and the aim is to at least occupy the second place in the Vietnamese market with a share of 15 to 30%.
Dabbah agrees with this assessment. According to him, Mamba needs a budget of several hundred thousand dollars to a million dollars to be launched.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
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