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Masan Group Corporation has spent US$65 million to acquire a 25 per cent stake in Trusting Social JSC, a Vietnamese subsidiary of Singapore’s Trust IQ Pte. Ltd.
(Bloomberg) -- Masan Group is taking a 25% stake in Vietnamese fintech startup Trusting Social valued at $65 million as the consumer conglomerate accelerates its transition to e-commerce.
Masan Group Corporation is focusing on adopting technology and artificial intelligence across its daily operations and consumer experience to truly become a consumer-tech ecosystem, according to Danny Le, its CEO. The partnership with Trusting Social further expands Masan’s consumer capabilities with AI and ML consumer solutions to meet consumer’s need for personalisation, convenience and accessibility. — Photo courtesy of Masan
Trusting Social and Masan plan to develop an AI-powered consumer tech platform.
The IPO could be on NYSE, Hong Kong, Singapore, or Vietnam.