Xuebacoming: Promising edtech had compliance issues from day one

Image: Unsplash

Other hefty mistakes also contributed to Xuebacoming’s demise – proof that investor and media support, and a booming market, won’t guarantee success

Among the six edtech unicorns listed by US-based CBInsights in 2019, five were from China. Online education has been booming since 2009 in the country, with 209 funding deals in 2017 and over 200 in the first 11 months of 2018. Beijing and Shanghai have the highest concentration of edtechs in the world. China's population of 1.4bn is expected to grow significantly due to the new two-children policy that was introduced in 2015. The government will continue to increase the proportion of its GDP spent on education every year.Jumping on the edtech bandwagon in 2015 was 20-year-old Qu Feixuan...
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Edited by Suzanne Soh

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