AnyMind Group, a business process-as-a-service (BPaaS) company listed on the Tokyo Stock Exchange, has acquired Vibula, a social and live commerce agency based in Vietnam.

This acquisition is AnyMind’s first in Vietnam and its 11th globally, following its purchase of Japanese e-gifting SaaS company AnyReach earlier this year.

Founded in 2021 and headquartered in Ho Chi Minh City, Vibula offers services in social commerce marketing, ecommerce store management, campaign management, and multi-channel network operations.

The agency serves clients in various sectors, including health and beauty, consumer goods, and electronics.

🔗 Source: AnyMind Group

🧠 Food for thought

1️⃣ Southeast Asia’s e-commerce shift toward video commerce reflects broader Asian retail trends

Vietnam’s explosive growth mirrors a regional transformation in how consumers shop online, with data showing video commerce now accounts for 20% of Southeast Asia’s e-commerce GMV in 2024, up from less than 5% in 20221.

This shift is particularly pronounced in Vietnam, where livestream shopping generates conversion rates of 30%, significantly outperforming traditional e-commerce methods and contributing to over 20% of the country’s e-commerce sales2.

The pattern follows China’s earlier e-commerce evolution, where livestream commerce became dominant before spreading to neighboring markets, with companies like TikTok Shop growing their Southeast Asian GMV from $4.4 billion in 2022 to $16.3 billion in 20231.

Vietnam’s position as “one of the most vibrant live commerce ecosystems outside of China” explains why AnyMind specifically targeted Vibula, as the Vietnamese market serves as both a current profit center and a testing ground for strategies that can be deployed across their regional operations.

Multiple forecasts show Vietnam’s e-commerce market reaching between $36 billion and $63 billion by 2030, representing a substantial growth opportunity in a market currently dominated by mobile-first consumers increasingly comfortable with video-based purchasing34.

2️⃣ AnyMind’s acquisition strategy reveals systematic regional expansion through specialized e-commerce enablers

AnyMind’s acquisition of Vibula marks its fourth e-commerce industry acquisition and continues a clear pattern of targeting specialized enablers in high-growth Southeast Asian markets, following similar acquisitions in Thailand (Moindy, 2019), Indonesia (DDI, 2023), and Malaysia (Arche Digital, 2024).

The company’s evolution from its origins as AdAsia Holdings to its current form illustrates a deliberate diversification strategy, with its IPO on the Tokyo Stock Exchange in 2023 fueling its expansion to 19 offices across 13 markets5.

Their acquisition approach typically targets companies with complementary capabilities, as seen in the GROVE acquisition which added 150 exclusive creators to their network, enhancing their influencer marketing capabilities for the Japanese market6.

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