On December 26, the annual online strategy conference for primary and secondary schools officially announced that they had received a Series D financing with a funding amount of 120 million US dollars. After achieving a total annual revenue of more than 1 billion yuan in 2017, the head of 1: 1 said that in 2018, the three major areas of product, teaching and research, and large class projects will be fully upgraded.
This made Zhang Yi, who had just abandoned McKinsey's high-paying position at that time, opted to start an online education as a subdivision. It was very embarrassing. At one time, various fundraising was needed to pay employees' salaries.
In July 2015, the head of the company got a 20 million A round of financing led by Shunwei Capital. In March 2016, it obtained a round B financing led by Dachen Venture Capital, and in September it received a round C financing of several hundred million yuan from Huasheng Capital. In July this year, the head of the company announced the completion of the C + round of financing one to one, and the investor was StarVC.
While obtaining financing one after another, the number of heads of 1: 1 and teachers and revenue have also steadily increased. As of now, the head-to-head has a team of more than 20,000 teachers and registered more than 2.2 million. It is especially worth mentioning that its renewal rate exceeds 80%.
In June 2017, the one-to-one business of the head broke 100 million in a single month, which is several times ahead of the second place. During the Double 11 this year, it achieved a miracle of more than 30 million revenue in 3 days.
In just two or three years, why can the head-to-head 1 rise against the trend? Zhang Yi explained that the head-to-head is not "overtaking in a curve" but "overtaking in another lane". At first, everyone was not optimistic about the segmented circuit of online education, but Zhang Yi, who has done online and small class teaching, believes that the one-to-one model can better teach teachers to teach children well, and the online model can solve Chinese education. The problem of imbalanced resources must be the future trend.
"A teaching and research + product technology company", this is Zhang Yi's positioning of the head 1 to 1 now. In 2017, the head-to-head invested more than 100 million yuan in the back-end, which was mainly used to improve teaching and research capabilities and the overall quality of teachers.
In Zhang Yi's view, education is destined to be a long-distance race. The head-to-head has only achieved phased success at present. The next step is to start with "starting at school, becoming a brand, and finally a platform." The final direction of development, the head of the one-on-one must continue to work hard to create a high-quality education platform.
Although it has achieved a certain advantage in the 1-to-1 online segment of elementary and secondary schools, there are still a lot of online and offline education companies that specialize in 1-to-1 online, especially some offline brands are still strong and undergoing transformation. What is the next step for the head of 1: 1 to further expand his own barriers?
36 氪 talked with Zhang Yi about the one-to-one growth password of the head and how the online education will differentiate and develop in the future.
Zhang Yi: There are two main parts, both of which focus on the back end. The first is the improvement of teaching and research capabilities, including intelligent teaching systems, assessment systems, and lesson preparation systems. Combining big data to improve student learning efficiency. Based on more than 2 million registered class data, more than 20,000 sets of teaching and research materials have been written, covering more than 6 million sets of questions. Second, improve the overall quality of teachers. An online teacher is strictly a new profession, and it is not a concept from an offline teacher. Some traditional teachers or college students who have previously worked as tutors may teach offline well, but it is not necessary to switch to online, and offline tutoring is different from online. We have to pass a lot of training, offline, etc. Methods, and strive to improve the overall quality of the teacher.
36 氪: Now you have more than 20,000 teachers. It seems that most college students are part-time students. How do you manage these teachers and the overall quality of these teachers?
Zhang Yi: We do use a lot of college students, but we have strict selection criteria. Now we only select students from TOP20 key colleges and universities as part-time teachers. After passing the test, the passing rate is about 10%. In our opinion, these teachers must first become role models for students, that is to say, his own academic performance is good, so we only select students from TOP20 key universities. This is just one of them. He also needs to have enough methods to make others excellent. He must have his own set of success or learning methods, and he must know how to have children. This is what we call "Elite Companionship Education".
After graduating from these college student teachers, quite a few of them are willing to join the heads-to-to-one. As our full-time teachers, about 15% of the more than 20,000 teachers are full-time teachers. We will continue to increase the proportion of full-time teachers in the future. 36 氪: How to better match teachers and students?
Zhang Yi: In the education industry, in fact, each user's needs are different, which means that each student's basic grades and personalities are different, and the teachers are also different. So how to better match the teachers and Students, this is actually a very complicated matter. So the question of matching becomes very demanding on whether you can portray a clear "beauty picture". For example, the current students are all post-00s. In fact, they are very different from post-80s and post-90s. We are going to study the personality of the post-00s. They prefer teachers who are humorous, happy, understanding, and able to communicate with students like friends. Therefore, teachers also need to go to targeted training, how to better teach these Child after 00.
36 氪: Online education is essentially education. Do you focus more on improving students' performance or ability, that is, how to monitor the effect?
Zhang Yi: This question is indeed crucial. For students and parents, the most intuitive effect is definitely the improvement in grades. But students stay in school five days a week and want to improve their scores simply through our online four hours a week, which is also unrealistic. So on the one hand, we must improve the learning ability of students, but more importantly, improve their motivation. This is also an important reason why we must find students from TOP20 key universities to be teachers. I think that extracurricular education should affect children in these three aspects: first, achievement; second, interest; third, vision.
Zhang Yi: I entered the education industry in 2009. From the beginning, I did offline education and started small classes. I have always been in 2014. Online, at first, it was indeed uneconomical in scale, high in marketing costs, and high in teacher costs, so at that time many people were doing 1 to 3 and small classes. But online, the teaching process is likely to have lasted for one month. One student progressed very fast and two were very slow, and eventually became 1 to 1 and 1 to 2. Therefore, we feel that if we do education to truly change a child and improve it most efficiently and effectively, we should do 1: 1.
I think that in terms of education, whether it is doing 1: 1, small class, or large class, in the end, it needs to be personalized, and everyone is required. Even if the large class is to be personalized, it can be customized to individuals through some methods, and analyze personal needs to provide more personalized services. From school to brand to platform
Zhang Yi: I was profitable offline, and the profit was not low, but I think it would be meaningless if it was just for making money. When I graduated in 2014, I also got good offers, including McKinsey, but I was thinking at the time, if I realized my finances in the future, what would I most want to do? I may still choose to teach as a teacher, because I want to share a lot of ideas and meaningful things that I think are useful. However, it ’s difficult to be bigger simply by offline. At most, you can only lead in a certain area of a city. It is difficult to expand on a larger scale, and it is difficult for teachers and management to keep up. That's why I want to be a line mate: There are actually many platforms for online education. How do you improve your advantages?
Zhang Yi: The core is the teacher. In this market segment, 90-point teachers are limited, you must go to circle more good teachers. Of course, there is a gap in the technical level between these online platforms. Including how to use artificial intelligence and big data to make teachers and students match more accurately, it is still a very costly thing and must be continuously invested.
Zhang Yi: We are now four or five times as far away as the second place. By the end of this year, the pattern of first, second and third will come out. In the future, this is a platform-oriented business, and it must be a war. Of course, there have been wars from before to now, but it has not yet reached the level where Mobike and the ofo short soldiers meet. In the end, from the perspective of profitability, the first place can be profitable, the second place can be tied, and the third place will be difficult.
Zhang Yi: Online and offline are very different. These are two different forms. In terms of education, it is impossible to completely kill offline. We are also working with some offline education brands.
Zhang Yi: "Beginning with school" refers to the traditional education industry, whether online or offline, which can be understood as a school, and an industry that is often slow in schools requires patience.
Zhang Yi: I think for the enterprise, it is still necessary to be firm, not to do anything, and to have sufficient precipitation. Especially education, it is necessary. Many of those who closed down previously followed suit and eventually killed themselves.
Zhang Yi: Is there more anxiety or how to continuously provide better results to customers, how do students with a score of 70 mention 80 or even higher? Examination is not a short-term industry, and long-term investment is required to cause qualitative change. How to achieve continuous improvement is what we have been thinking about. It is necessary to continuously invest in teaching and research, and to keep the output content the best at all times, otherwise the customer will escape, and investing in this is sometimes a bottomless pit, and the effect may not be seen immediately. Hanchuan Recruitment Network , Quzhou Talent Network ,(Responsible editor: admin)