The China Online Education Group, widely known as “51Talk”, an online Chinese education platform known for its English language expertise, announced significant growth at the end of its third quarter in September. It boasted a 180.9 percent increase in net revenue, and a 135.2 percent increase in gross billings, from last year.
As reported in PRNewsWire, Founder, Director and Chief Executive Officer Mr. Jack Jiajia Huang said, “The K-12 market is a strategic target for us and in the third quarter 58.1% of gross billings were contributed from our K-12 business efforts, a notable 330.9% increase year-over-year. With a focus on young learners, we have implemented a comprehensive teacher training program highlighting the Total Physical Response teaching methodology. We have also signed agreements with renowned and internationally recognized educational organizations including the ETS TOEFL Junior China Management Center, which has authorized us to be the first online education company in China to provide both the TOEFL Primary and TOEFL Junior tests. In October we signed a strategic partnership with American International Schools, LLC ("AIS") and American International School of Utah ("AISU"). In this partnership, 51Talk, AIS and AISU will collaborate in areas of academic research, curriculum development, lesson product development, teacher recruitment and teacher training.”
Mr. Huang also noted success with 51Talk’s new American Academy program. He said, “In addition, our recently launched American Academy program, which utilizes North American teachers with primary school teaching experience and caters to children 5 to 12 years old, is also rapidly gaining traction. The ability to quickly grow this program and address premium-level demand is testimony to both the program's quality and our platform's capabilities. Moving forward, we will continue to enhance our product offerings to improve learning outcomes and to capture opportunities from the ever-growing demand for online English learning in China.”
What does this mean? Those who want to learn English in China have a fantastic opportunity to learn with a successful, growing company.
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