English training platform aims for more Philippine teachers
In February, 51Talk held a press conference in Beijing and decided to use the "51Talk" brand exclusively to represent its K-12 online English education offerings, officially positioning the company as focused on serving the K-12 market.
In 2017, the revenue for the company's K-12 business accounted for almost 80 percent of the total, and the CEO expected the figure to exceed 85 percent this year.
"From an English training provider targeted at adult users to an online educational company that focuses more on K-12 business, 51Talk has undergone the biggest transformation since it was born. I am confident that our team made the right choice," the CEO added.
Two years ago, 51Talk was officially listed on the New York Stock Exchange on June 10, becoming the first domestic online education company to go public abroad.
As the educational enterprise is celebrating its second anniversary of going public, Huang also said he was confident in 51Talk's future growth.
"The gross margin of Philippine teachers can reach 65 percent, while the figure is between 30 and 40 percent for foreign teachers in North America," Huang said. "And the high cost performance of the courses is appealing to many families, especially for those middle-income groups at Chinese smaller cities."
