VIPKid’s Newly Launched Subsidiary of Large-class Business Raised $ 80M in Series A Round
Beijing, Jan. 6th (JMDedu) — VIPKid today unveiled its subsidiary under the brand name “Dami Online School”(大米网校), targeting pupils with large-size live broadcast class model. Announced by Mi Wenjuan, founder and CEO of the company, the newly launched brand is integrated and upgraded from SayABC and VIPFengxiao, also has raised 80 million US dollars in its A round of financing from Tencent, Sequoia Capital China and Hommer Capital(黑马纵横).
“Dami Online School” adopts the teaching mode of combining large-size class provided by Chinese teacher with small-size class by foreign teacher, which means that while improving students’ English reading and writing proficiency, the product also leverages VIPKid’s large foreign teacher pool in the United States and Canada to provide children with 1-on-6 small-size class every week to strengthen their listening and speaking skills. As for the teaching materials, “Dami Online School” will use licensed contents from Oxford University Press and refer to Everybody Up as its English textbook.
Apart from English courses, Dami Online School also launched Mathematics courses providing students with immersive learning experiences by large-size live broadcast class model. According to VIPKid’s user data, more than 80% of parents who have paid for the kid English product have expressed their demand for high-quality math courses.
According to Mi Wenjuan, Dami Online School has not spent large amount of funds on customer acquisition. The latest disclosed data shows that VIPKid currently has more than 700,000 students, and over 80% of the students in Dami Online School are acquired from VIPKid.
At the current stage, the course of Dami Online School is priced at only 3,000–5,000 yuan a year which is comparable to similar products in the market. With a lower cost than VIPKid, Dami Online School also meets the demands of users in second-, third- and fourth-tier cities.