Former Morgan Stanley investment banker joins as the new Chairman
Targeting the USD 115 billion global market for Chinese and English language learning.
<<The Message Digest>>
- Samuel Yang, CFA, a former Morgan Stanley and Merrill Lynch investment banker, led a group of international investors that has acquired TutorABC.
- TutorABC announces plans to expand in Taiwan and to other international markets.
- TutorABC will continue to focus on its TutorMing, TutorABC, and tutorJr brands.
- TutorABC plans to launch TutorMeetCloud, an advanced new learning management platform for companies and schools to securely deliver all their training programs and classes online.
TAIPEI, Jan. 26, 2022 /PRNewswire/ — TutorABC, the world’s leading online educational and language learning platform, officially announces today that it has been acquired by an international group of American and British investors with extensive experience in the education, international e-commerce, and finance industries.
New Ownership and Chairman of TutorABC
The investor group is led by Samuel Yang, CFA, a former Morgan Stanley and Merrill Lynch investment banker, who will serve as the Company’s new Chairman. Previously he managed over USD 3 billion and specialized in venture capital, pre-IPO, and IPO investments. He also has a strong background in education. He has represented Kaplan in Taiwan for over 20 years, is a CFA instructor (for CFA Levels 1, 2, and 3), is the primary trainer for Credit Suisse’s internal private banking training programs in Asia, and through his family’s non-profit organizations (The Yang Foundation and Kingdom Education Foundation), provides a comprehensive range of educational programs to over 160 schools in over 30 countries around the world.
Expanding in Taiwan and to other International Markets
The new investor group aims to transform TutorABC into a global organization that will fully dominate both its home market in Taiwan and other international markets.
The Company will expand its TutorMing Chinese learning courses targeting the USA, UK, Canadian, and Australian markets.
The Company will also expand both its English (TutorABC and tutorJr) and Chinese (TutorMing) language courses throughout Asia. It will specifically target Japan, Korea, Indonesia, Thailand, Vietnam, and Hong Kong.
The Company also sees exciting new opportunities to further develop the European, Indian, and the Middle Eastern markets.
"We are tremendously impressed with the strength of the Company’s brands, its patented AI / big data technologies, and the vast experience and professionalism of the management team. We will continue to strengthen TutorABC’s position as the leading standard in the global education technology industry," says Chairman Yang.
Launching TutorMeet+ (a new B2B Online Education Platform for Companies and Schools)
TutorABC plans to launch TutorMeetCloud in Taiwan, an advanced new learning management platform for companies and schools to securely deliver all their training programs and classes online. The TutorMeetCloud platform has already been used internally for its online programs for over 10 years, with more than 50 million classes held. In addition, it has recently been tested with several elementary and high schools online, reaching over 40,000 students.
Company Background and Expansion Plans
- TutorABC is the world’s leading online educational and language learning platforms.
- Since 2004, TutorABC has been providing highly personalized online educational programs through its award-winning brands, which includes TutorABC, tutorJr, TutorMing, PopCoding, GoGoldTalk, and TutorMeetCloud.
- Over 16 million students have successfully attended TutorABC’s live and interactive courses, including English, Chinese, Math, and Computer Coding classes.
- The Company plans to aggressively double its size in 2022 by launching new products, expanding its B2B training business with schools and companies, and by launching into other international markets.
- TutorABC is well-positioned to take advantage of the exciting new growth opportunities in the online education and language-learning markets.
- Distance learning during the COVID-19 pandemic is helping to drive staggering growth in online learning. According to market research firms Global Market Insights and HolonIQ:
- the e-learning market (that includes academic, corporate, and government use of e-learning) is currently valued at USD 250 billion. It is expected to surge at a compound annual growth rate of 21 percent through 2027, to hit USD 1 trillion.
- the global Direct-to-Consumer (DTC) language learning market is expected to grow from USD 50 billion to USD 115 billion in 2025, with online learning growing by 3x during the same period.
- TutorABC provides its students with lessons that are engaging, outcome-driven, and focused on delivering a premium quality learning experience. Previously the Company invested over USD 300 million to develop its core technology platform and teaching materials, which includes partnerships with other global brands, such as Oxford University Press and Disney English.
- The Company’s core technology is protected by 10 patents (that fully utilize AI and big data analytics) and caters to each student’s background, experience, and educational goals. The Company’s patented Dynamic Course Generating System (DCGS) systematically analyzes and matches the student’s unique needs with (a) the most relevant course materials and lesson plans, (b) the most suitable teachers, and (c) the best-matched classmates.
- Built into the Company’s technology platform is a rigorous feedback mechanism that allows it to constantly improve its educational programs based on feedback from its students, teachers, and customer protection representatives. This continuous feedback helps to guarantee the best results and highest efficacy rates for all students and teachers.
- Over the past 10 years, the Company has received outstanding reviews from its students, with an average rating of 9.8 out of 10 for its TutorABC and tutorJr English language programs, and 9.9 out of 10 for its Chinese TutorMing classes.
- The Company’s CEO, Jackie Huang, says, "This is an exciting new beginning for TutorABC! Our new investors will provide us with the capital, experience, and connections that we need to further dominate the Taiwan market and to go global."
- After the acquisition, the Company plans to expand its product offerings to include K-12 afterschool study programs, specialized preparation for exams, study abroad advisory services, and professional training courses.
- "Our goal is to be a long-term partner with our students as they keep returning to us for all their educational needs throughout their lives," added Huang.
- "The Company is redesigning education using technology. Over the next few months, we look forward to making further announcements with the launching of new products and new global partnerships," noted the new Chairman, Samuel Yang.
TutorABC – the world’s leading online educational and language learning platform.