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What are the biggest ed tech companies in China in the supplemental market targeting K-12 (e.g. test prep, tutoring, teacher's academy, etc.)?
Hello! Thank you for your question about the largest ed tech companies in China that target the K-12 market. The short answer to your question is that iTutorGroup, 17zuoye, Yuantiku, 51talk, Netdragon Education, Genshuixue, Xingshuai, Xiaozhan Jiaoyu, Yuanfudao, Ambow Education, and Hujiang.com are the largest companies that are providing services in test prep, tutoring, teacher's academy, etc. to the K-12 market.
METHODOLOGY
According to the "Global Times", there are 72.28 million users in the online educational market in China. This number is expected to grow to 220 million users by 2022. The overall ed tech market in China is worth 120bn RMB.
In order to find the companies that are capturing this market, I began my search by defining "biggest ed tech", while excluding those "educational giants" that you specified in the question. I directed my search toward finding the companies that received the most funding in China. I utilized this list as well as the inclusions that you supplied to compile the list below as well as the attached spreadsheet. This document includes the name of the company, a short description, funding, revenue as available, and number of users. I also included the information and the linked source in the list below.
Unfortunately, because many of the companies are private, not all of them disclose their annual revenue. I searched all available sources to get the most accurate and up-to-date information.
COMPANY INFORMATION
Here is a list of the biggest ed tech companies in China providing services to the K-12 market:
1. "iTutorGroup is an online education company that provides individualized, personalized learning experiences." The company received $315M in funding. iTutorGroup has 100,000 users worldwide. The company's estimated revenue is $198.8M.
2. "17zuoye is an online learning platform for students K-12, as well as teachers and parents. The name means “homework together” in Chinese, and the site aims to serve as a nexus for all three groups to facilitate the educational experience, focusing on English and Math classes." 17zuoye received $135M in funding. This company serves 7M students, 146,000 teachers and 30,000 schools. The company's estimated revenue is $3.8M.
3. "Yuantiku is a Chinese online education product launched by Beijing Fenbi Future Science and Technology. Yuantiku has launched material for the National College Entrance Exam, administrative aptitude tests, essay tests for civil servants, entrance exams for postgraduates, first-level constructor exams, law counselor of enterprises exams, junior accountant exams, securities qualification exams, and more. Yuantiku is an exercise database that provides authoritative contents of previous years' examinations for students. Based on the knowledge level of students, it can also provide tailored exercises to improve their efficiency. It offers computer-based exercises as well as smartphone-based exercises." Yuantiku received $84.2M in funding and claims 13M users. Despite searching multiple sources, the revenue was not available.
4. "51talk is an online English school providing one-to-one foreign language teaching services at a cost of 15 yuan per class. It has established inexpensive English learning based on the Internet." 51talk received $65.1M in funding and has 2M student and 4,000 teacher users. The revenue was listed at $4.4M.
5. "Netdragon Education is an online education platform that targets students in Kindergarten to high school through websites and mobile applications. It was launched in 2014 and is based in Fuzhou." Netdragon Education received $60.5M in funding and serves 30M students and 2M teachers in 100 countries. Its annual revenue was $196M.
6. "Genshuixue is a Chinese online education platform that allows its users to search for courses related to various fields and subjects. It was launched in 2014 and is based in Beijing, China." Genshuixue was funded at $50M by a single investor and has 1M student users and 70,000 teacher users. No revenue data was available.
7. "Xingshuai Teach was founded in 2008 and hopes to provide a more convenient and effective way for the majority of our students to easily learn the real skills and knowledge." Xingshuai started as a "platform for crash courses in areas such as graphics, images, video, and design. The company now plans to expand his 300 curricula and 18 subjects with VR content. It has also announced it will build a chain of online education projects, possibly targeting K-12 education." This company was funded with $32.4M and has a reported 8M users. No revenue data was available.
8. "Xiaozhan Jiaoyu was founded in 2010 and is providing training courses for students preparing entrance exams for overseas universities and English language tests including TOFEL." It received funding of $100.6M and has 50,000 users of the TOFEL classes. No revenue data was available.
9. Yuanfudao, founded in 2007, claims to be "the largest online live course platform servicing primary and secondary school students in China" and offers "a curriculum spanning from primary school English, Mathematical Olympiad to all-subject courses in secondary school." Yuanfudao has a paying user base of over 1M and was funded with $244.2M. The company's revenue was listed at $40M.
10. "Ambow Education Co., Ltd. provides e-learning technologies and education services in China. It offers a learning engine that personalizes the way in which a student absorbs information; and a learning tracking system that records the student's progress and achievements." Ambow Education was funded with $167M and boasts 1M paid users in 2011 (the latest data available). This company had a reported revenue of $188.4M.
11. Hujiang.com is a Shanghai based online education platform. Hujiang.com was funded with $187M and has an incredible 100M users in 200 countries. Hujiang founder and CEO Arnold Fu said, "reaching over 100 million users is a major milestone and the combination of IoT and education is expected to push the user growth to the next level. He said his company will integrate resources and bring the convenience, efficiency and happiness of learning to more people." No revenue was reported.
CONCLUSION
To wrap it up, iTutorGroup, 17zuoye, Yuantiku, 51talk, Netdragon Education, Genshuixue, Xingshuai, Xiaozhan Jiaoyu, Yuanfudao, Ambow Education, and Hujiang.com are the biggest ed tech companies in China in the supplemental market targeting K-12. These 11 companies serve the huge market of users of the online education in China. This market is projected to grow to over 200M users by 2022. Of these companies, Hujiang.com boasts 100M users, while iTutorGroup had the largest funding at $3.8M.
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