Large-scale financing for small classes in the past year.
It is learned that online children’s English brand “Jiuqu English” has completed hundreds of millions of C1 rounds of financing, led by Baidu , Shenzhen Venture Capital, former Haimu Fund and investment, Mu Mian Capital as the exclusive financial advisor. This round of financing will be mainly used for talent reserve, product research and development, upgrading of teaching experience and service quality, and new channels for distribution.
Before, Jiujing English completed the angel round financing in March 2015. In October 2016, it completed the A round of financing led by Guojin Investment and Wofu Jinxin. In May 2017, it was completed by IDG Capital. Guojin Investment, the former Haimu Fund and the investment of the B round of financing.
Joosu English started in online 1v4 English small class in 2015, providing online live teaching services for North American foreign teachers for children aged 4 to 12, and opened 1v1 business in 2018. At present, there are more than 15,000 North American foreign teachers in Jiuyin English, and more than 600,000 students are paid. According to Jiuyu, the growth rate of Jiuyu English is more than 100% per year.
In the most critical renewal and referral indicators, the term renewal rate of the time is over 80%. In the past 3 years, 98% of the users came from the customer introduction; the high rate of renewal and the introduction rate means The cost of obtaining customers is lower. According to the team, Jiuqu’s first order has been profitable.
From the user’s point of view, the users of Jiuqu are mainly distributed in first-tier cities and new first-tier cities, with the largest number in Shanghai, Beijing and Shenzhen. Since this year, there have been obvious sinking characteristics, so Jiuzhu will also sink the channel as this year. the key of.
About the cooperation of this round of financing, Jiujia said that because Baidu is China’s largest search engine, it has obvious advantages in content distribution, and can cooperate with Jiujia to occupy the user’s mind. For example, through a small intelligent audio to lay a richer English learning scene for a long time; or through Baidu small program to get traffic access; at the same time Baidu AI Baidu will also explore the pattern innovation of children’s English from the technical aspect.
Children’s English is the first track of the online education explosion. For the first time, everyone saw the market potential of the educational track. After the 1v1 children’s English ignited the capital enthusiasm, the small class mode also broke out. In 2018, big companies began to test children’s English classes: