TutorABC, a Taiwanese online educational and language learning platform, has recently announced that it has been acquired by an international group of investors with extensive experience in the education, e-commerce, and finance industries.
According to a press release, the investor group is led by Samuel Yang, a former Morgan Stanley and Merrill Lynch investment banker, who will serve as the company’s new Chairman.
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, per a press statement. The company will expand its TutorMing Chinese learning courses targeting the USA, UK, Canadian, and Australian markets. It will also expand both its English (TutorABC and tutorJr) and Chinese (TutorMing) language courses throughout Asia, specifically targeting Japan, Korea, Indonesia, Thailand, Vietnam, and Hong Kong, the statement added. The company also sees exciting new opportunities to further develop the European, Indian, and Middle Eastern markets.
Commenting on the development, Samuel Yang, the new Chairman of TutorABC, said,
"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."
TutorABC is one of the world’s leading online education and language learning platforms. Since 2004, the company has been providing highly personalized online educational programs through its award-winning brands, which include TutorABC, tutorJr, TutorMing, PopCoding, GoGoldTalk, and TutorMeetCloud. The company said that over 16 million students have successfully attended its live and interactive courses, including English, Chinese, Math, and Computer Coding classes.
TutorABC provides its learners with lessons that are engaging, outcome-driven, and focused on delivering a premium quality learning experience. Previously the company has invested over $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.
Jackie Huang, CEO of TutorABC, said,
"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. 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."
After the acquisition, TutorABC plans to aggressively double its size by launching new products, expanding its B2B training business with schools and companies, and launching into other international markets. It 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.
The company said it also 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.
TutorABC'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 the most relevant course materials and lesson plans, most suitable teachers, and the best-matched classmates.