Just two years after its launch, the GMV (Gross Merchandise Volume) of the startup OpenCommerce Group (OCG) has gone up 13.8 times. The company's personnel growth rate is also up to 200% per year.
OpenCommerce Group is a technology company operating in e-commerce.
OpenCommerce Group (OCG) is a technology startup providing e-commerce solutions which develops the ShopBase ecosystem.
With the aim of promoting cross-border e-commerce, OCG provides comprehensive solutions for businesses on a global scale during market fluctuations.
Like many other startups, the OCG team also faced many challenges. However, thanks to the companions, this startup has expanded, with the GMV(Gross Merchandise Volume) has gone up 13.8 times after nearly two years of operating. The company's personnel growth rate is also up to 200% per year.
Ha Phuong Anh, CMO of OpenCommerce Group shared: “Not only do companions provide financial support, but they are also an invaluable resource to help us operate sturdily.”
When starting a business,what are the difficulties and advantages that the OpenCommerce Group team faces?
Ha Phuong Anh: “Joining a market that is considered a playground of giants, OCG cannot let itself be small. Before developing the ShopBase ecosystem, OCG experienced many difficulties and sometimes returned to the starting point empty-handed. When operating under the name Beeketing in the global marktech market, we provided users with applications that optimize e-commerce business processes.
In the period of lacking autonomy of platform and experience, we were fortunate to meet passionate partners, trusted investors, and employees who have accompanied the company through many successes and failures to this day.
During periods of market volatility that seemed to be the end of everything, sticking to our core values, which is a guideline in all times, helped us stay on the right track and stay ahead of the market.
Always being aware that our values lie in technology and talents, our forte comes from human resources, OCG has more confidence to be ready to face market fluctuations.”
Faced with challenges in the process of starting a business, who did OCG get help from?
Ha Phuong Anh: “In the first phase, OCG was fortunate to receive support from many investors, such as: Dr. Hajime Hotta (CEO Cinnamon), entrepreneur Nguyen Thanh Nhan (CEO Kalapa) or 500Startups investment fund. These are opportunities we always cherish and can learn many valuable things from.
Expert Hajime Hotta is an angel investor of OCG and is also one of the most important investors from OCG’s first steps in December 2014 to the present time.
Dr. Hajime Hotta himself is also a startup founder with experience of leading two million-dollar technology companies, Naked and Cirius. In OCG’s starting phase, realizing its potential through startup programs at the time, after about four months of researching, exchanging and evaluating the actual growth results of the project, expert Hajime Hotta decided to become the first investor in OCG (operating under the name Beeketing at the time).”
What are the role and influence of companions on the mindset and the development process of the OCG team?
Ha Phuong Anh: Each investor leaves an influence and supports OCG a lot in the process of perfecting the mindset - realistic skills. It can be said that they are not only investors, investment funds, or "angels", but they are really companions in the development of OCG.
The most valuable thing I can confirm is that OCG has received the trust and companionship from domestic and foreign investors. More than just financial support, they are an invaluable resource to help us operate sturdily on the thorny road, aiming for sustainable development, and complete all our goals.
In the period of 2015 when we were young people with many ambitions and no experience, one of the memorable experiences with the OCG team was a 6-month process of participating in a comprehensive training program for start-up entrepreneurs in Silicon Valley, under the investment of the US 500Startups fund.
The training sessions are led by successful startup founders, or investors with many years of experience and understanding of the difficulties that start-up entrepreneurs face.
In the process, OCG had the opportunity to expand its network with other startups in the 500Startups startup incubator, many of which became partners later on. At the same time, the extensive network of investors here has helped the OCG team to be exposed to many potential investors and receive much useful advice.
Ha Phuong Anh, CMO of OpenCommerce Group
What makes OCG's products stand out in the market?
Ha Phuong Anh: OCG developed the ShopBase technology ecosystem based on real experience in the cross-border e-commerce industry since we operated under the name Beeketing. Today, OCG is growing with a 13.8 times higher GMV after nearly two years of launch (recorded at USD 223 million in 2020) and is always prepared for dropshipping and print-on market fluctuations- demand (POD) globally.
We are firmly committed to making cross-border e-commerce even better. Therefore, OCG's technology products ecosystem is always aiming for the most comprehensive solutions, derived from core technology to turn the Vietnamese platform into an international brand.
With the advantage of being a Vietnamese platform, we listen to users and are always looking for opportunities to bring Vietnamese products beyond geographical limitations, conquering the most demanding markets.
Starting from the technology as the heart of the system, OCG begins with identifying the problems that cross-border e-commerce businesses face. Then, we develop solutions to the problem and improve the product gradually. These problems may include the target market, to the payment gateway, to the processing - packaging or delivery of the product.
What is the direction of development of OCG in the future?
Ha Phuong Anh: In the period of 2021 - 2025 with many competitions and fluctuations, we realize that there are many opportunities in the midst of difficulties. This is the time for OCG to spring up, further improve its products, do better in its mission and create momentum for the dropshipping and print-on-demand market to develop further in Vietnam.
Do you think that in different phrases, startups need a new companion?
Ha Phuong Anh: I don't think that it is necessary to define companions as old or new. Advice and support from early investors such as expert Hajime Hotta, entrepreneur Nguyen Thanh Nhan or incubator 500Startups still accompany and help OCG in its development today, and certainly will in the future.
In the upcoming phase, we have plans to expand the market and develop the products ecosystem. But certainly, bringing the Vietnamese brand to a bigger technology market is our goal, OCG is ready to accompany "companions" with the same concerns and vision.
Source: The Leader