VIPKid

From Wikipedia, the free encyclopedia
VIPKid
Company typePrivate
Industry
FoundedOctober 2013; 10 years ago (2013-10)
FoundersCindy Mi, Jessie Chen, and Victor Zhang
Headquarters
Beijing
,
China
Websitehttps://vipkid.com

VIPKid, also known as VIPKID, is a global education technology company that connects children with the world’s best teachers for real-time online English immersion learning. VIPKid’s mission is to inspire and empower every child for the future. VIPKid believes that education is not one-size-fits-all. Rather, all students are unique, and the world is within their reach when connected with great teachers capable of personalizing learning and sparking curiosity.

History[edit]

Founded in 2013 and formally launched in 2014 by Cindy Mi, the VIPKid platform connects paying students with teachers in the United States and Canada.[1][2] Its online-classroom portal enables students to receive 25-minute English language lessons from fluent English-speaking teachers.[3][4] Students and teachers communicate via its global classroom platform.[5]

In 2017, VIPKid launched a new service, Lingo Bus, to teach Mandarin to students of 5 to 12 years old.[6][7]

In 2017, VIPKid reported that it had raised $200 million in initial series funding,[8] and in April 2018 raised an additional $500 million in series D+ funding.[9][10] Combined, this amount equated VIPKID's valuation to $3 billion.[10] As of November 2018, the company reported having 60,000 contracted teachers to teach 500,000 students.

In May 2020, VIPKID announced that all current teachers would gradually transition to a new service fee structure and the base rate adjustment policy will be phased out. This will effectively result in a pay reduction for the vast majority of their teachers.[11]

In 2021 the company stopped providing services in China involving teachers based abroad.[12] China-based customers will use Chinese citizen teachers in China and/or teachers residing in China who have teaching licenses.[13]

COVID-19 pandemic[edit]

In February 2020, VIPKid donated 1.5 million English and math classes to affected students from the COVID-19 pandemic. Students in the city of Wuhan, Hubei Province, and children of medical workers were given priority for free classes.[14]

See also[edit]

References[edit]

  1. ^ "Excerpts From the New Work Summit". The New York Times. 2019-03-02. ISSN 0362-4331. Retrieved 2019-08-14.
  2. ^ "VIPKid Joins BrandZ's Top 100 Most Valuable Chinese Brands Five Years After Its Founding". AP NEWS. 2019-05-06. Retrieved 2019-08-14.
  3. ^ "The Quick Guide to Teaching with VIPKid". VIPKid Blog. 2020-04-21. Retrieved 2020-06-08.
  4. ^ "Teaching English Online With VIPKID". International TEFL Academy. 2018-10-18. Retrieved 2020-07-16.
  5. ^ "VIPKID培训公司发展策略研究--《大连海事大学》2018年硕士论文". cdmd.cnki.com.cn. Retrieved 2019-02-05.
  6. ^ 董志成. "Lingo Bus extends Mandarin learning offering - Chinadaily.com.cn". www.chinadaily.com.cn. Retrieved 2019-02-05.
  7. ^ ""Big Chinese" is edtech's next big thing, but its path overseas is unclear · TechNode". TechNode. 2018-08-30. Retrieved 2019-02-05.
  8. ^ "China's VIPKid Is Said to Raise Funds at $1.5 Billion Valuation". Bloomberg News. 23 August 2017.
  9. ^ "VIPKID Raises $500 Million in Series D+ Financing, Led by Coatue Management, Tencent, Sequoia Capital and Yunfeng Capital". www.businesswire.com. 2018-06-21. Retrieved 2019-02-05.
  10. ^ a b "China's VIPKID, which links English tutors with online learners, raises $500M at $3B+ valuation". TechCrunch. 21 June 2018. Retrieved 2019-02-05.
  11. ^ "The #1 Guide To Teaching With VIPKID". The Borderless Teacher. 2020-06-01. Retrieved 2020-06-01.
  12. ^ "VIPKid to stop selling foreign-based tutoring to students in China". Reuters. 2021-08-07. Retrieved 2021-08-08.
  13. ^ Feng, Coco (2021-08-10). "Vipkid the latest Chinese education firm to cut student access to overseas tutors to comply with new policy". South China Morning Post. Retrieved 2021-08-11.
  14. ^ Costello, Becca (2020-02-18). "Nebraskans See Boost In English Language Classes As Chinese Kids Stay Home | netnebraska.org". netnebraska.org. Retrieved 2020-02-18.