Internet businesses in Vietnam is at growth phase, some businesses are decade old such as vietnamworks.com, but most are very new such as travel portals, ecommerce portals.
Online businesses succeed only with a strong revenue/business model that creates a genuine value to the consumer/user by making a strong impact in reducing the demand and supply gap in the industry.
Online businesses cannot grow just on advertising revenue that relies on worthiness of their website content. Neither it can grow by generating traffic and selling their webspace.
I am a regular reader of the latest happenings on online world, both in Vietnam and world wide. digitaltrends and Vnexpress are some of the sources that provide up to date information on the latest news on Vietnam Online Industry.
Recently you could read about companies getting funds from various VCs for their businesses. This is the time where everyone and their mom and pop are looking to start a online businesses. We need to wait and see how many sustain and how many fall back