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36 krypton learned that the online vocational education brand Kaiba has recently completed a 600 million yuan B1 round of financing. For financing purposes, it will be mainly used in fields such as teaching and research, product technology development, offline scene construction, and organization construction. As early as August last year, the class had completed the 550 million yuan A round of financing jointly invested by Gao Rong and Hillhouse Ventures.
Open Class Bar was established in 2012, and it was officially launched one year after the closed beta. At the beginning, I cut into vocational education (DTG business) with IT technology. Later, two core disciplines of business and design were gradually added. The business category includes project management, business analysis, etc.; the creative design category includes product design, game original painting, 3D modeling, etc.
Last year, Kaiba expanded its corporate service business. In June this year, the revenue exceeded 20 million yuan. From April to June this year, Kaiba expanded the examination and training business including postgraduates, public examinations, qualification certificates, and academic qualifications. ( ETG business), the current team size is over 1,000 people, the revenue in the first month is over 10 million, and it doubles every month for three consecutive months. According to 36Kr, ETG will be able to sprint 100 million yuan in revenue next month. If you add the earliest digital talent training business (DTG), it will sprint a total of 200 million yuan in a single month.
In addition, the course bar has also expanded its business to the learning needs of users in atypical career scenarios. The early stage is cut in with financial management courses, and gradually extended to part-time sideline (dubbing, short video and e-sports, etc.), super communication skills (Qihua said the debater Liang Qiuyang A series of courses such as main course), color psychology (led by Le Jia teacher) and hobbies (Chinese painting, calligraphy, etc.).
Four major businesses
Since then, the course has formed four major businesses: vocational qualification education category, vocational skills education category, enterprise service category, personal and family growth learning platform. At the same time, the opening of the course also officially completed the upgrade from “digital talent online education platform” to “online vocational education”.
Regarding online, Kaiba’s founder and CEO Fang Yechang’s judgment is “Online does not mean that there is no offline scene. My personal understanding is that in the future, the customer acquisition and growth of vocational education will be required both online and offline. Delivery and operation are based on online The model is the main and the offline is supplementary.”
As the K12 space is compressed, more funds and talents are beginning to flood into vocational education. So, compared with other schools, what are the core barriers to start classes? Mainly in the following five aspects:
The first is Huike’s 11 years of education. Huike has cooperated with more than 2,000 universities and established more than 10 professional systems. Among them, there are 5 million+ in-service students and 3000+ teachers in production, education and research;
The second is a diversified online vocational education service, from college students to in-service personnel, providing content including vocational ability advancement, qualification examinations, and academic qualifications;
The third is modular and systematic teaching design, and a full range of teaching operation services. There are tutor teaching, teaching assistant Q&A, class teacher supervision, and self-study live broadcast, recording, AI interaction, online programming laboratory, etc.;
The fourth is the actual teaching of famous companies and teachers, with an average experience of more than 5 years, and teachers from famous schools account for more than 90%;
The fifth is the self-developed online education system bouldering cloud to create a one-stop digital solution for the online education industry.
According to Fang Yechang’s plan, three core talent training scenarios were mainly built in the first 10 years: college education scenario (Huike 2B2C), personal learning scenario (starting class 2C, including college students, in-service practitioners and freelancers), and corporate internal training Scenario (Start a class, corporate services, 2B2C).
In the next 10 years, Kai Bar will actively develop the “talent service business” on this basis, build a lifelong career growth platform, and eventually become a world-leading “talent technology” company!
The following is the internal letter of Fang Yechang:
Family members of the class, well!
Today, I officially entered the year of confidence. My life has entered a new stage, and I am about to start a new journey. And let’s start the class, and it’s about to celebrate our eighth birthday. I recently recalled the glittering days we used to fight together. I have a lot of feelings. I want to say a few words to all my family members tonight. In the past year, we ran all the way, the team size has grown from more than 1,000 people to more than 3,500 people now, and the revenue in the first half of this year has also increased by about 3.5 times compared with the same period last year. We just completed the B1 round of financing of 600 million yuan this Friday, and the B2 round of financing is also in progress. These ammunition will be mainly invested in the fields of teaching and research, product technology development, offline scene construction, and organization construction. Since the Spring Festival holiday this year, many colleagues have been engaged in our internal battles on the third day of the Lunar New Year. Every soldier and general has been extremely brave and is bound to win fruitful battles. Applaud for you and be proud of you!
Looking back on the past year, the cumulative repurchase rate of our digital talent training business (DTG) within one year has reached 50%, and it is expected to soon exceed the monthly revenue target of 100 million yuan. DTG continued to expand and improve the two major disciplines of data business and creative design on the basis of the original IT technology disciplines, and basically completed the construction of the vocational skills training system for the three core disciplines of technology, business and design. After eight years of accumulation, especially the rapid development in the past two years, Kai Class has become the earliest, largest and most influential pan-IT Internet and digital talent online vocational education platform in China.
From April to June this year, we have successfully incubated and expanded the examination training business (ETG) including postgraduates, public examinations, qualification certificates, and academic qualifications in just three months. At present, the size of the ETG team has exceeded 1,000 people, and it has created an impressive record of over 10 million in revenue in the first month, doubling monthly revenue for three consecutive months. It is expected that ETG will soon exceed the “small target of 100 million yuan in monthly revenue” “. A lot of friends ask why do you need to recruit, recruit, and test certificates when you start a class? Where is our competitive advantage? In fact, those who are familiar with the history of Huike and the opening course know that when Xiwei and I (the co-founder of Huike) worked at Beihang Software College in 2003, they were responsible for the enrollment business of the master’s degree in software engineering, including postgraduate entrance examination and on-the-job. Recruitment of personnel. The initial business of Wisconsin was also a postgraduate project in 2010, but there was no concept of online education at that time. I still miss the experience of the tour of enrollment briefings for colleges and universities across the country. In addition, the addition of ETG is not a simple subject category overlay on the basis of DTG, but the use of digital technology, organization and operation accumulated over the years of the course bar to find out the continuous needs of users in the long life cycle of different subject categories. Completion of renewal repurchase and continuous growth.
It is worth mentioning that the past year was also a year of rapid development of the ESU business. From the establishment and incubation in the first half of last year, to the iterative industry-focused products in the second half of last year, to the digitalization in the first half of this year. Comprehensive corporate services focusing on transforming talents and organizational solutions are fully blooming in major industries such as finance, consumption, energy, transportation, and education. Let’s start corporate services and 2C businesses have formed a multi-dimensional customer value and business closed loop. Revenue in June Has exceeded 20 million yuan.
You may have noticed that the company’s main business structure has undergone a qualitative change. It has been upgraded from “one-handed grasp” of professional hard skills to “hard on both hands” such as professional hard skills and recruitment verification, and has evolved from a single development of 2C business. 2B and 2C collaborative innovation. Starting today, the course bar will enter a new strategic stage, and the brand positioning will be officially upgraded from “digital talent online education platform” to “online vocational education”. This “online” positioning does not mean that there is no offline scenario. My personal understanding is that in the future, the acquisition and growth of vocational education will be needed for both online and offline. Delivery and operation are based on the online-based model, and offline as a supplement . This is like “Hema Xiansheng” and “JD Supermarket” are the offline scenarios for Ali and JD to deploy new retail, but it does not affect the positioning of Ali and JD’s e-commerce platforms. In fact, we have established a full-time offline team stationed in colleges and universities under the ETG structure based on Wiscon’s brand and channels in colleges and universities for more than ten years.
At the same time as the brand positioning is upgraded, slogan is also upgraded to “Start a class, let the workplace be more free.” We have insights into more and more students, especially those born in the 90s and 95s. Many of them do not want to “roll in” or “lay down”, but use various means to improve themselves. Behind this is more of one thing. Kind of self-worth realization. Improving efficiency through learning so that you don’t have to work overtime may be a way of life. Changing jobs may be a cool way of expanding your boundaries. Changing industries may be a different way of living. What they really want in their hearts is “workplace freedom”, which is also The career outlook of professionals in this new era!
Different from the professional scene demand focused by “Let’s start”, we have used the “Midui Academy” brand to explore the user learning needs of some atypical professional scenes since the end of last year. Initially, we started from the financial thinking course. After half a year of exploration and expansion, we now Midui Academy has formed a product matrix focusing on financial thinking, part-time side jobs, super communication skills, psychology, hobbies and other courses. Based on the insight into user value, we firmly enabled Midui Academy’s slogan “Life Upward”. From now on, “Midui Academy” will enter a new strategic stage, and the brand is officially positioned as a “personal and family growth learning platform”.
Finally, many friends are also very concerned about the policy trends of the vocational education track. I take this opportunity to share my personal views. Vocational education has the social and people’s livelihood attributes. It is essentially the core means of talent structure adjustment in the transition of the country’s economic structure. It needs to match supply and demand resources through a market-based mechanism under national macro-control. From this point of analysis, the adjustment and optimization of the talent structure is an extremely important organizational guarantee during the gradual upgrade of the entire national strategy, and the importance of vocational education is self-evident. This favorable policy for vocational education is also evident.
I’ve been in business for ten years, and I’m not confused for 40. Let’s start the class and stand at an important intersection with myself. I think of the “Homer Epic” quoted by Hu Shi in the Peking University induction speech. The end is a sentence: Now we are back, please take a look Let’s find out!