Investors have put billions of dollars into digital education platforms like Byju’s and Yuanfudao, but experts believe the lessons they promote are more of an innovation in test-prep delivery than in learning outcomes. And yet, do these classes actually teach students anything?
Experts Byju Yuanfudaotobin Restworld
Yuanfudao is an online education platform with approximately 3.7 million users in China. Its suite of products includes live tutoring, online question banks, and an app that helps students solve math problems. The company has raised $1.5 billion in eight rounds. Its investors include Tencent, Hillhouse Capital, and Boyu Capital. It also received backing from DST Global, which has previously backed Didi Chuxing and the Didi Chuxing Education Fund.
Yuanfudao is a web-based education platform with live tutoring and online courses for students from primary to secondary school. It was established in 2012 by three individuals and has offices in Beijing and Wuhan. In addition to the online tutoring platform, it also offers an online question bank and an intelligent correction tool known as Xiaoyuan Souti.
The company’s app also offers students discounts that are up to 90 percent. Students can sign up for a course that will meet their requirements and budget. Yuanfudao’s teachers are hired from all over the world and can work flexible hours. Its courses also include English classes.
Yuanfudao is China’s leading online education platform. It is the second-largest edtech unicorn, behind Byju’s $15.6 billion valuation. Founded eight years ago, the company has already acquired more than $600 million in funding to expand its services and products.