METX - Online Education Offers New Opportunities to Pupils Around the Globe
FinancialBuzz.com News Commentary
New York, NY (12/18/2020) – The pandemic has caused major shifts in lifestyles across the board. One of the most impactful changes is the transition to online education, as millions of pupils and students around the world are now taking classes, courses and entire curriculums online. Besides the more traditional education avenues, such as universities and colleges, other alternative education service providers have also emerged in recent years like Skillshare, Lynda, Udemy, and their popularity boomed this year. As a result, discussions on taking these online education services public have been reported. For example, Coursera Inc. is considering an initial public offering in 2021 that could give the online education provider a valuation of around USD 5 Billion, according to a report by Bloomberg. Meten EdtechX Education Group Ltd. (NASDAQ: METX), 2U, Inc. (NASDAQ: TWOU), American Public Education, Inc. (NASDAQ: APEI), TAL Education Group (NYSE: TAL), GSX Techedu Inc. (NYSE: GSX)
The online education market is not just diverse but is influenced by many factors besides the pandemic. In recent years, the major factors driving the growth of this market size include the growing demand to reduce the cost of education, increasing government initiatives promoting online education, and increasing smartphone penetration and the Internet around the world. Overall, the global online education market size is projected to reach USD 245.9 Billion by 2026, from USD 153.18 Billion in 2020 while witnessing a CAGR of 8.2% during 2021-2026, according to data provided by Valuates Reports.
Meten EdtechX Education Group Ltd. (NASDAQ: METX) announced breaking news yesterday that, “it expects to increase prices of its products under the impact of the COVID-19 pandemic this year.
As a key player in the Chinese ELT market, Meten EdtechX has further strengthened its pricing power. The Company intends to increase the prices of its products by approximately 5%. This move is expected to increase the Company’s gross billings by approximately RMB80 million, net profit by approximately RMB60 million, and earnings per share by 50% in 2021. The net profit of Meten EdtechX will likely rapidly increase after hitting bottom during the COVID-19 pandemic in 2020.
In addition, Meten EdtechX is building more high-end SVIP courses for China’s high-net-worth students/users. The price of the new SVIP courses is expected to be approximately RMB200,000 per student per year. Meten EdtechX will provide students/users with door-to-door teaching classes and a three-for-one attentive teaching services. The new SVIP courses will be offered in more than 20 cities across China to extend the Company’s high-end business.
As of September 30, 2020, Meten EdtechX had 123 learning centers (including 110 self-operated learning centers and 13 franchised learning centers). The Company believes that Meten EdtechX has become the only choice for adults in most cities in China to learn English offline. Based on this competitive advantage, Meten EdtechX has also continued to accelerate the development of junior and online ELT businesses to build a comprehensive education and training platforms.
About Meten EdtechX: Meten EdtechX is a leading ELT service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). It offers superior teaching quality and student satisfaction, which are underpinned by cutting edge technology deployed across its business, including AI-driven centralized teaching and management systems that record and analyze learning processes in real time.
The Company is committed to improving the overall English language competence and competitiveness of the Chinese population to keep abreast of the rapid development of globalization. Its experienced management is focused on further developing its digital platform and expanding its network of learning centers to deliver a continually evolving service offerings to a growing number of students across China.
For more information, please visit: https://investor.metenedu-edtechx.com”
For our latest “Buzz on the Street” Show featuring Meten EdtechX Education Group Ltd., recent corporate news, please head over to: https://www.youtube.com/watch?v=ewjxOJO4jW0
2U, Inc. (NASDAQ: TWOU) reported last month that it will deliver an expanded portfolio of 10 new professional online short courses in Health and Wellness, Leadership and Management, Digital Transformation in Healthcare, and Innovation and Research developed by the Stanford Center for Health Education (SCHE). These courses will be available to global learners through GetSmarter, 2U’s short course brand. “Health and wellness has never been more relevant to families, organizations, and society as a whole,” said Andrew Hermalyn, President of Global Partnerships at 2U. “We’re excited to expand our agreement with Stanford Center for Health Education and offer a broader portfolio of online short courses covering timely and important topics in healthcare.”
American Public Education, Inc. (NASDAQ: APEI), parent company of online learning provider American Public University System, announced back in October hat it has entered into a definitive agreement to acquire Rasmussen University (“Rasmussen”), a nursing- and health sciences-focused institution serving over 18,000 students at its 24 campuses across six states and online. Rasmussen offers both traditional and competency-based programs online and through its 24 on-ground campuses in six states. With over 8,200 nursing students, Rasmussen is one of the largest providers of pre-licensure nursing programs in the United States.
TAL Education Group (NYSE: TAL) is K-12 after-school tutoring services provider in China. Back in October the Company announced unaudited financial results for the second quarter of fiscal year 2021 ended August 31st, 2020. Net revenues increased by 20.8% year-over-year to USD 1,103.3 Million from USD 913.2 Million in the same period of the prior year. “TAL’s financial results of the second fiscal quarter reflected a combination of the continued strong growth momentum of our online courses and the lingering pressure on our offline business in this period. Although the second fiscal quarter was marked by the extended impact of the COVID-19 outbreak, we are encouraged to see that the public health situation and general economy began to improve in China, and offline teaching and tutoring gradually resumed during the summer months,” said Rong Luo, TAL’s Chief Financial Officer.
GSX Techedu Inc. (NYSE: GSX) an online K-12 large-class after-school tutoring service provider in China, announced back in November its unaudited financial results for the third quarter ended September 30th, 2020. Net revenues was RMB 4,913.7 Million, a 316.5% year-over-year increase. Net revenues of online K-12 increased 356.5% year-over-year to RMB 4,262.2 Million. Larry Xiangdong Chen, GSX’s founder, Chairman and CEO, commented, “We achieved another robust quarter, with net revenues hitting an all-time-high of RMB 1.966 Billion, which is 3.5 times that of the same quarter of last year. These outstanding results speak to our continued focus of providing the highest quality services to our students and parents, our consistent training to frontline employees and our unwavering efforts to improve the operational efficiencies and organizational capabilities.”
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For meten edtechx education group ltd video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has signed a four-month agreement with the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com has agreed to three hundred thousand common and restricted shares locked up for six months, FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
Media Contact:
info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com
SOURCE: FinancialBuzz.com
The post Online Education Offers New Opportunities to Pupils Around the Globe appeared first on Markets & Headlines .