“Better Teacher Better Future”
|Founded:March 2012 in Beijing, China
Category:E-Learning, EdTech, Tutoring
Primary office: Beijing, China
Core Technical Team: Beijing, China
Amount raised:$1.5B (8 rounds – March 31, 2020)
- Yuanfudao App – online tutoring app that offers K-12 multi-subject tutoring, including live course and real-time Q&A
- Yuantiku App – a learning assistant that provides junior/high school students with real/previous exam questions, instant diagnostic reports, and portable error notebook
- Yuansouti App – a question search engine that provides detailed solutions and video explanations
- Xiaoyuankousuan App – a homework corrector where students provide handwritten answers, review incorrect answers, and obtain online assigned exercises
- Banmaaike App – an online learning intelligent education platform serving children aged 2-8 with artificial intelligence-based course products for multiple disciplines, including English and Chinese learning, and mathematical thinking
- Exclusive online education partner of TV show “Super Brain”
- Provide free high-usage tools to users and promote through the platforms and preferential question sets
- Improve social image by helping Wuhan during the coronavirus outbreak: donated 10 million Yuan and live courses for 20 million students
- Establish personalized learning diagnosis and growth files, helping build scientific twelve-year plan for students
- Head teacher 1v1 tutoring and real-time Q&A
- Large-scale online model test that enable authentic simulation of real test, automatic system correction, and scoring
- Available and convenient on PC, IPad and cellphone
- Provide free trial courses before the subscription, establish reward system and enhance the fun and interactivity in courses
- Invite famous masters to give lectures and interact with students online
- Good reputation through the recommendation of parent circles, teachers, friends and family, etc.
- One of the largest and most varied educational tech companies in Asia
- Ability to raise capital with excellent market competitiveness and profitability
- Ability to serve millions of students at the same time
- Ability to advance technology – apply voice recognition, handwriting recognition and other technologies to product functions such as photo search, intelligent correction of English composition, ancient poetry assistant, etc.
- High customer retention – the renewal rate of primary school customers exceeds 80%
- Localized teaching content and targeted courses supported by huge database
- Strong technical support from Ali Cloud – full link monitoring, capacity assessment, online disaster recovery, fault drills, etc., to guarantee the availability, reliability, security, and stability of the system
- Partnership with “Super Brain” to launch special courses and become the exclusive player registration and selection agent
- Academic cooperation with Oxford University and Cambridge University Press to provide students with a global perspective and scientific thinking
- Tencent-backed online education firm
- Guaranteed teaching quality
- Unique learning behavior database with billions of entries on student answers and questions
- Expand brand influence through sponsoring popular variety shows such as “Super Brain,” “CCTV New Year’s Gala,” “Ace vs Ace” and TV adverts
- Continuously update products to improve customer experience – improving basic functions, introducing targeted large-scale live classes, and optimized course management
- Set up million-dollar progress scholarships (with multiple companies) to reward middle school students who improve their grades through Yuanfudao online tutoring and are admitted to prestigious schools
- Hire first-line experienced senior teachers with 1% admission rate
- Organize free live courses
- Exclusive interviews with top scorers of college entrance examination over the years
- Applying technology as a breakthrough to improve learning efficiency and quality
- Target revenue over 10 billion Yuan in 2020 to achieve leading revenue in E-tech industry
- Take advantage of quarantine to expand enrollment
- Ride the global trend to online learning
- Upgrade products through database and customer feedback
- Exploit excellent teacher resources to solve the shortage of quality online teachers
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Develop and sell offers that are hard to replicate, original, fit successful commercialization patterns, and ride an external trend
- To show the company’s technical and knowledge expertise, develop and demonstrate a product or service prototype; demonstrate how technology and knowledge experience contribute to the company’s scaling master plan; enhance the academic and technical reputation of the team; ensure that the company’s proposed technological concept is valid; and contribute to university research projects
- Apply big data, machine learning and artificial intelligence to generate predictive analytics and enhance automation
- Continuously improve value propositions based on results and feedback
- Operate a large data collection and service center
- Apply big data analytics to produce insightful information about users, suppliers and customers to enhance shopping pattern analysis, improve customers experience, predict market trends, provide more secure online payment solutions, increase personalization, optimize and automate pricing, and provide dynamic customer service
- Use a cross-channel customer-centric approach to provide a seamless, unified, and contextual customer experience, irrespective of device, channel, or platform of interaction
- Deploy digital technologies capable of servicing customer that can scale
- Provide platforms that are client centric and highly customizable
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- Nan Yang