China’s Online Education and eLearning Market Infographic
The advent of educational technology is revolutionising the education industry, and it is paving the path for a more flexible and nuanced approach to learning. While pencils and papers remained essentials of the classroom, electronic devices offer the advantage of transcending over the boundaries of time and place. New technologies and faster internet make online education more convenient and affordable while traditional methods have no choice but to adapt. The China’s Online Education and eLearning Market Infographic highlights how China has experienced a massive edtech boom in recent years, as evidenced by the number of startups that capitalised on the opportunities.
In online education, new Chinese startups like GenShuiXue.com, which literally means a question “Study With Whom?”, has been offering numerous online courses since only last year. Another company called 17zuoye.com (numbers 1 and 7 sound like the word “together” and “zuo ye” means “homework”) claims to serve more than 7 million students. It has recently raised $100M in series D round reaching reported total valuation of $600M.
In exams-obsessed society like Chinese, no wonder that test prep startups have been growing fast as well.
Children early education is another area where the impact of new and particularly mobile-based technology has been even more visible. When it comes to paying for quality apps that promise quick results, Chinese parents are much less price sensitive and wouldn’t be willing to spend more on such tools.