Startup got funded 260000 usd on shark tank changes its

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Vnexpress, which has the highest ranking among other e-newspapers in Vietnam on Alexa.com, number 11, only after Yahoo!, Google, and Google Vietnam, is the most read and most prestigious newspaper in Vietnam.

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Before the ‘Tech Awards 2018’ organized by Vnexpress, where Mr. Don Thao Nguyen will attend as speaker & panelist, the newspaper had an interview with CEO of Umbala Network to discuss on the future of Umbala Network after successfully closing khuyến mãi with investors on Shark Tank Vietnam

You can view the original content in Vietnamese here


Not just a live đoạn clip app with multiple effects, Don Thao Nguyen is pursuing Blockchain and building Umbala ecosystem.

Umbala has become well-known in the startup’s community since receiving fund on Shark Tank Vietnam at the beginning of 2018. After a year, co-founder of Umbala, Mr. Don Thao Nguyen states that the company is having new goals.

- After the successful khuyến mãi on Shark Tank, how was the fund used?

Firstly, besides the fund, the greatest benefit we earned from Shark Tank was the brand equity và credibility. When joining the show, we determined that this was an opportunity lớn accelerate the growth, as well as approach community and investors without any sale cost. Apparently, we have achieved this goal.

After the show, Umbala attracted talents and high-quality human resources. We received many emails & messages from young people eager to lớn get on our board & contribute khổng lồ our company. As a CEO, I think this is our powerful invisible resources.

Regarding the fund, in fact, during the negotiation, the percentage of equity và the number of the fund may be changed, or the giảm giá khuyến mãi may fail due to lớn legal issues or other problems. When working with the Sharks, we have negotiated to lớn get the amount that most suits the business value.

However, one thing has changed after the show. Our company was no longer Umbala.Tv. We have changed our focus forward Blockchain technology, thus, our business valuation was much bigger than before.


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- How did your team approach new opportunities after Shark Tank?

After the show, I was blessed khổng lồ have the credibility of Umbala & myself raised markedly. I had a chance to meet & talk to lớn Vietnamese young people, & get to know their passion for startup. Our team is proud of inspiring many students lớn start their own career.

There were some parents that recognized me on the street và expressed their gratitude for bringing passion to their children. Since then, I understand that my persistently pursuing the dream of Vietnam-based technology startup has become the motivation for Viet youth.

Back to when I was in my 20s, I was lonely on my career path và did not have a clue about startup. I had opportunities khổng lồ meet entrepreneurs with revenue of hundreds khổng lồ thousands billion VND a year. I’ve always wanted to bring my giải pháp công nghệ to

Besides, the credibility of Umbala among investors has gained considerably. Some Vietnamese corporations offered lớn acquire Umbala but I refused because I could have sold the company to lớn a corporation in Silicon Valley (USA) from Sept 2016.

- Umbala redirects with Umbala Network and pursues Blockchain. What were the reasons for this change?

We are researching and developing Umbala Network — a Blockchain-based platform with high performance và speed, & ability to connect billions of camera-based devices. The ecosystem of camera-based applications is like a new keyboard, or in other words, a real-time communication window between people all around the world. This economy is called Eye Vision Computing Economy.

In the era of digital technology, data is an invaluable asset that can bring in billions of dollar to lớn big information technology corporations such as Facebook và Google. And the data exported from cameras is worthful & enormous potential.

It is predicted that there will be 44 billion cameras all around the world in 2020. With a population of 10 billion, each person will interact with 4–5 cameras. This suggests many potential future business models that make use of data about human và human behaviors.

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We also have our R&D team work on protocols assisting the traditional models of e-commerce, travel and services to lớn operate on Blockchain platform.

In addition, we expanded opportunities khổng lồ cooperate with many other companies to lớn study traditional business models, and apply Blockchain and AI lớn bring economic efficiency and benefits lớn users.

- What vì chưng you think when people say that Umbala.Tv failed after Shark Tank?

As the saying goes, we can đại bại the battle but win the whole war.

Umbala.Tv entered the US market with just a small amount of fund compared with millions of dollar of competitors from trung quốc and Silicon Valley. However, Umbala.Tv was widely popular with American & global young people and became one of the best apps to lớn create videos on social media. This is the evidence of Vietnamese technological proficiency that can serve the global market.

However, the battle in the end users market is not just about technology, it is also about capital. Umbala.Tv was originally a Vietnam-based tech company with much smaller capital than Chinese tech giants. Funding is difficult as there are many obstacles in Vietnam’s financial system. Frankly, Vietnamese investors don’t believe in giải pháp công nghệ in the long run. To lớn survive, inland tech companies have lớn be acquired by foreign corporations và the team become their employees right in the Vietnamese market. That’s why I prefer bearing difficulty than selling the company.

But we have fate with Blockchain. After Shark Tank, a lot of underground “sharks” & “whales” have offered khổng lồ invest in Umbala. Some enterprises have asked khổng lồ cooperate with us to lớn apply Blockchain và camera technology in their traditional business models. We are now full of energy because by keeping the company, we have found the new technology that brings more opportunities khổng lồ survive in the market.

- With this new direction, what challenges vị you have lớn face?

The basic challenge of any tech company is human resources and capital. I always have faith in Vietnamese talents, proven by our team at Umbala Network. In terms of capital, this is the biggest challenge that prevents us from entering the global market. Our competitors from trung quốc have a huge amount of fund, tư vấn from the government & financial institutions.

- What are Umbala Network’s advantages when pursuing Blockchain?

My team và I have more than 15 years of experience developing online apps, 8 years of thiết bị di động Economy apps, especially camera devices processing apps. Therefore, we clearly understand the potential of the economy based on camera data.

We develop Umbala Network with the mindset that sees camera data as a digital asset. With this philosophy, we develop a transparent platform with secure data lớn enable companies khổng lồ create an ecosystem of many industries. At that point, the scenario is that digital asset from individual’s camera can bring in annual revenue, be transferred & traded with other assets.


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The 108 DPoR Consensus Algorithm

- What is your strategy in for the near future?

Our foremost goal is to lớn run a successful funding campaign. The market is bearish and our company will incorporate the traditional funding model from venture capitals with funding from Blockchain investors. The fund will be allocated to developing the platform & creating the ecosystem.

In the Blockchain world, people don’t often say where we are in the world, but which industry we are building our platform in. We solve the problem of other Blockchains by the new consensus algorithm. Umbala Network’s Blockchain is designed to fast accelerate, effectively work, và easily approach over users.

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The Eye Vision Computing economy has great potential since a camera in the near future will be used not just as a device for capturing and recording but also as a new method of communication between people. This is the reason why I have a strong belief in what our company is pursuing.


FOLLOW UMBALA NETWORK:

* Landing Page: http://umbala.network* One Pager: http://bit.ly/umbalanetwork-onepager* Pitch Deck: http://bit.ly/umbalanetwork-deck* Whitepaper: http://bit.ly/umbalanetwork-whitepaper* Whitelist: http://bit.ly/umbwhitelist

* Umbala Network Global Community: https://t.me/UmbalaNetwork* Umbala Network Global Announcement: https://t.me/UmbalaNetworkAnn* Umbala Network Vietnam Community: https://t.me/UmbalaNetworkVietnam* Umbala Network Vietnam Announcement: https://t.me/UmbalaNetworkVietnamAnn * 6struyenky.vn Global: https://6struyenky.vn/umbalanetwork* 6struyenky.vn Vietnam: https://6struyenky.vn/umbalanetworkvn