Online education is taking off across the globe. One place it's taking off and investors are biting? China.
Investors have found a new favorite in China: online education. Last month, it too four Chinese online learning firms to raise $604.2 million in venture capital.
The biggest winner? Chinese K-12 online education platform Vipkid. The platform advertises an online American elementary school experience for Chinese students between the ages of four and twelve.
Later in the week, Weikezhijia, a Wuhan-based online platform streaming courses for all subjects in primary schools and high school, raised $3.8 million.
According to the China Money Network, Chinese parents prioritize education as number one for their children. They quote an HSBC survey that shows that Chinese parents spend $42,892 on education for their children.
After China ended its one-child policy in 2015, it expects to see an explosion in its population--and thus a greater demand for educational services.
In 2017, China's K-12 educational market grew 51.8 percent, and had about 183 million students.
While teaching resources vary across the country, Chinese investors seem to agree that online teaching will reach the across the broadest spectrum of income--and give the biggest bang for the buck.
Learn more about studying in China.