BEIJING, Sept. 7, 2020 /PRNewswire/ -- On August 31, Zuoyebang, China's largest online education startup providing tutoring to primary and secondary students, released its performance for summer 2020 season. Zuoyebang continues to lead China in paying course students, growth rate and scale of users, while its student acquisition costs are the lowest in China's online education industry.
Over the summer, Zuoyebang's total paid live streaming course enrollments grew 390% year-on-year to 7.8 million total enrollments. More than 1.71 million students opted for courses with no discounts, which was an increase of 350% year-on-year. Of these students, over 67% were converted from Zuoyebang's Super APP, an online learning assistance platform - significantly reducing the cost of new student sign-ups and allowing the company to keep its recruitment costs at less than half the industry average.
To date, Zuoyebang has reached over 50 million total daily active users and 170 million monthly active users across its suite of mobile education apps. In addition, more than 60% of all users live outside China's first- and second-tier cities - furthering the provider's commitment to an inclusive education.
"Zuoyebang's continued success comes as a result of our innovative use of new technologies and ongoing traffic acquired from the Zuoyebang Super APP. Our unique strategy enables us to achieve both scale and efficiency and sets us up with strong foundations for future growth," said Chen Gongming, Co-founder of Zuoyebang.
"The more functional and comprehensive Zuoyebang is, the better the user experience. As students use the Zuoyebang Super APP, we gather valuable data that allows us to deliver tailored course recommendations specific to their educational needs," added Luo Liang, Zuoyebang's Vice President.
Online education has boomed in China in recent years, and this upward trend is set to continue. Throughout the first half of 2020, over 194 million Chinese K12 students have made the switch from offline to online learning on the wake of the pandemic.
"Looking ahead, Zuoyebang will explore opportunities to develop new courses and expand with new business models. We remain agile and fully committed to developing education for our students. The possibilities are truly endless," said Gongming.
About Zuoyebang
Zuoyebang was established in 2015. As the largest K12 online education platform in China, Zuoyebang offers a comprehensive suite of services including the Zuoyebang Super App, Zuoyebang Live Courses App, Zuoyebang Oral Arithmetic App. Zuoyebang currently has over 800 million users registered in total, with over 50 million daily active users and over 170 million monthly active users. Headquartered in Beijing, Zuoyebang has 11 branches across the country including Wuhan, Xian and Jinan. The edtech startup currently employs over 22,000 staff nationwide and plans to recruit an additional 10,000 staff to assist in job creation in the first half of 2020. At the end of June, Zuoyebang completed its Series E financing of US $750 million.
