As China harnesses the Internet to revolutionize traditional industries, IT professionals are in huge demand.
IT professionals need to upgrade to keep up with new technologies and the fast-growing industry.
Working adults can afford to pay for courses but don’t have time to attend school.
China’s online education market is growing rapidly and is projected to reach RMB 283 billion by 2021.
For marketing and expansion, it gains users by word of mouth and branding. Founder Jin Yan has said that Jike Xueyuan models itself after Xiaomi.
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Pre-2014, the Jike Xueyuan founding team had organized China’s first salon for mobile developers in Beijing in 2009, followed by three years of cooperation with high schools to conduct IT courses.
January, company set up.
August, number of users reached 120,000; platform was offering more than 600 courses.
March, raised millions of US dollars in Series A financing led by BlueRun Ventures.
September, closed Series B financing round, raising US$22 million, led by SIG China, with participation from BlueRun Ventures China.
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April, began partnering with colleges to provide customized practical training courses for students and prepare them for future careers.
July, launched live streaming function.
December, launched one-on-one instruction, charging RMB 5,000 fee for four months.
July, number of users reached 1.2 million, of which 10% were paying users. Daily course hits broke 100,000. Platform was offering some 1,500 courses taught by nearly 1,000 cooperating teachers.
December, co-founders Li Jie and Wang Xin were reported to have quit Jike Xueyuan.
Jike Xueyuan has about 2 million users, of which 10% are paying members. Above 90% of them are in the 18–34 years age group.
It’s offering more than 2,000 courses, taught by over 3,000 professionals. Two to four new instructional videos are put up weekly.
Based on the big data it has collected so far, the team has teased out about 100,000 knowledge points.
The Jike Xueyuan brand is strong among programmers: its Baidu indicator has surpassed 4,000 points, compared with 1,000+ points for the best of similar offline players.
Break even soon.
Launch Jike+, a program of cooperation with universities, enterprises and public welfare institutions. Includes customized courses and training, and providing free accounts for businesses and groups in need.
Could partner offline institutions keen on using the Jike Xueyuan brand for its student recruitment.