On October 22, ape online education announced that it had recently completed a total of $2.2 billion in G1 and G2 rounds of financing.
Among them, the G1 round was led by Tencent, followed by hillhood capital, Boyu capital and IDG capital. Round G2 is led by dstglobal, with CITIC Industrial Fund, Singapore Government Investment Corporation (GIC), Temasek, Zhixin capital, DCP, Oceanlink, Jinglin investment, Danhe capital and other funds participate in this round of financing.
So far, ape counseling has obtained three financing projects this year, with an annual cumulative financing amount of more than 3 billion US dollars.
Estimated at $15.5 billion
After the completion of the financing, ape online education company has a valuation of US $15.5 billion, ranking first among the global educational technology Unicorn companies. This is the first time that Chinas educational technology company has ranked first in the global educational technology unicorn.
Among the unicorn enterprises listed in the list of educational technology, the highest valuation of ape guidance reached 50 billion yuan, an increase of 30 billion yuan over the previous year. Vipkid ranked second, with an estimated value of 30 billion yuan, an increase of 10 billion yuan over the previous year. The group ranked third with an estimated value of 20 billion yuan. Love learning, Galton education, McGee education technology, leader 1-to-1, valued at 10 billion yuan.
Today, ape coaching has become the worlds largest educational technology Unicorn company with its latest valuation of $15.5 billion.
Ape tutoring online education was founded in 2012. Since its establishment, ape counseling has always been committed to improving learning experience, stimulating learning interest and helping Chinese students to obtain high-quality education resources more conveniently. The company has a variety of intelligent learning products, such as ape tutoring online class, zebra AI class, ape question bank, little ape search question and little ape mental arithmetic.
Ape guidance said that after the completion of this round of financing, ape guidance will continue to invest in the exploration of scientific and technological innovation in the field of education, the development of new curriculum products and the expansion of online education service system.
According to media reports, the cash income of ape tutoring in 2020 is expected to reach between 18 billion and 20 billion yuan, of which K12 (online ape tutoring school and zebra AI class) has a target income of about 15 billion yuan, and that of adult education sector (chalk public examination) is about 4 billion yuan. From the perspective of financial recognition Revenue, the company is expected to reach 10 billion yuan by the end of this year.
The media reports that the operation group is conducting a new round of financing of US $700-800 million
While ape counseling has obtained the latest financing, news of a new round of financing has also been heard from the homework Gang, which ranks the third in the list of Unicorns in education and technology in China.
According to media reports, venture state is also conducting a new round of financing, with a financing scale of US $700-800 million and a post investment valuation of over US $11 billion. Investors include Softbank, Sequoia Capital China and tiger global management company, and Fangyuan capital.
On June 29 this year, the online education platform homework group announced that it had completed the round e financing of US $750 million. This financing is led by Fangyuan capital, tiger global, qatarinvestment authority, Sequoia Capital China fund, Softbank vision fund phase I, Tiantu investment, Xianghe capital and other new and old shareholders. Taihe capital continues to act as the sole financial advisor.
According to reports, homework help is the largest K12 online education platform in China. It is committed to helping education with scientific and technological means and solving pain points in the field of education. It has a number of educational products, such as homework help, homework help live class, homework help oral arithmetic and so on. The companys products have more than 50 million daily live users, 170 million monthly live users and more than 800 million activated users.
Hou Jianbin, founder and CEO of homework group, said that the development of online education in China has accelerated, but the quality of products and services has always been the core. After the financing, homework help will continue to invest in curriculum services and product R & D, creating learning value for users, and exploring new models and new businesses.
Independent profit without financing
Vipkid breaks the curse of one-to-one unprofitable online Youth English
Vipkid, ranked second, is not willing to be outdone. On October 18, miwenjuan, founder of vipkid, released an internal letter to encourage all staff to say: solving user pain points and creating user value is the original intention of vipkids entrepreneurship and the cornerstone of vipkids success.
According to the internal letter, the company has completed several rounds of financing. The latest round was completed on October 8 last year, with a total financing amount of 150 million yuan. The investor is Tencent investment, and Huaxing capital is the exclusive financial advisor for this round of financing.
Founded in 2013, vipkid is a brand of childrens English learning and education. It mainly creates personalized one-on-one online tutoring service for American primary school curriculum, focusing on serving children aged 5-12. At present, vipkid has more than 8000 employees, more than 800000 college students, and more than 90000 foreign teachers. It has achieved a positive unit operating cost (UE), ushering in the best development situation since the establishment of vipkid.
In terms of the companys profit target, vipkid is also progressing smoothly. After MI Wenjuan put forward the strategic goal of achieving independent profit without financing and earning one yuan per class last year, vipkid began to fully enter the era of refined operation and embarked on a new journey to achieve profitability.
According to the data of vipkids product strategy conference in August this year, the company has broken the curse of one-on-one non-profit of online childrens English. For two consecutive quarters, the unit operating cost (UE) is positive, 90% of the channels are profitable for the first time, the customer acquisition cost is reduced by 45% year-on-year, and has won 80% market share of online childrens English.
Who to learn from for half a year
Share prices plummeted 30% overnight
Last night, the stock prices of the two companies fell by more than 30% and closed down 30.97% in after hours, the biggest drop since listing. The shares closed at US $71.23/share and the total market value shrank to US $16.98 billion, more than US $7.5 billion evaporated from the previous trading day. Overnight, the market value evaporated more than 50 billion yuan.
On the news surface, media reports have something to do with the stock price falling or market rumors that the performance is not up to expectations. According to relevant rumors, the expected market revenue of the third quarter is 2.12 billion, which is actually or less than 2 billion; the sales expenses are 2 billion and expected to be 1.2 billion. In addition, unconfirmed news said that the app with whom to learn was the lowest in the K12 field (including vipkid) application ranking, and it was estimated that it would lose 600 million yuan in the third quarter.
On the other hand, according to global tiger financial statistics, who to learn from this years institutions frequently short. In the first half of this year, the company was short as high as 12 times, including grizzly bear 2 times, muddy water 2 times, citron capital 4 times and Scorpio venture capital 4 times. Most of the reasons for institutions to short are that they think their financial situation is too good, and they suspect that their financial and user data are false. Therefore, analysts have repeatedly lowered their target price. Not only that, Credit Suisse recently released the research paper who to learn from - losing the upward momentum in the increasingly fierce competition and the mistakes in business promotion in summer, which lowered its rating from neutral to underweight. The reason is that learning from whom no longer benefits from the growth of natural traffic, and makes wrong decisions at the critical stage of competition. Editor: Captain. Source: China Fund News Editor in charge: Zhong Qiming_ NF5619
Not only that, Credit Suisse recently released the research paper who to learn from - losing the upward momentum in the increasingly fierce competition and the mistakes in business promotion in summer, which lowered its rating from neutral to underweight. The reason is that learning from whom no longer benefits from the growth of natural traffic, and makes wrong decisions at the critical stage of competition.