The rapid pace of urbanization in China is driving demand for education, vocational training and education technology services. Meten EdtechX operates at the heart of this environment with a market leading position in the ELT segment and a profitable omnichannel business model, combining strategic retail presence, innovative technology and sophisticated digital delivery.
#1 omnichannel adult English Language Training (ELT) provider in China
- Leading provider of general ELT in China.
- Wide network of 149 learning centers covering 36 cities in China.
- Established online learning platform featuring over 200,000 paying users.
Cutting-edge technology underpins superior teaching quality and student satisfaction
- High-tech teaching and management systems underpin operations.
- Proprietary technology developed by in-house R&D team.
- High-caliber teaching staff and dedicated content development team.
- Curriculum developed through strategic collaboration with renowned National Geographic Learning.
Operating in an attractive market with high growth potential
- Significant growth in demand for practical English language learning in China fueled by rapid urbanization and rising expenditure on education, deemed vital for career development.
- Total addressable market for ELT in China forecast to reach $43 billion by 2022 (Citibank) with the online tutoring market expected to amount to $150 billion by 2030 (Morgan Stanley).
- ELT market in China forecast to grow at CAGR of 20.7% from 2018 to 2023, from a low ELT penetration rate of 2.1% in 2018 (Frost & Sullivan).
Leveraging efficient omnichannel business model to deliver profitable growth
- Cost effective expansion and operational benefits driven by omnichannel business model.
- Customer acquisition cost down from $631 per student in 2017 to $503 in 2018, and $474 in 9M 2019 thanks to successful cross selling.
- 2-year revenue and adjusted EBITDA CAGR (2016-2018) of 33% and 190%.
Clearly articulated expansion strategy
- Mid-term strategy focused on further development of digital offering; expansion of offline network into tier two, three and four cities; and enhancement and diversification of service offering.
- Opportunity to leverage established track M&A record as market consolidator.
- Strategy implementation to deliver 50% growth in revenue, 109% in adjusted EBITDA and 203% in net income by 2021.
Experienced management team backed by international investors
- Board of directors including independent directors with extensive international track record in education technology, M&A and digital transition.
- Experienced and innovative management team invested in the business.
No offer or solicitation:
This website and the information herein is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination between EdtechX Holdings Acquisition Corp. (“EdtechX”) and Meten International Education Group, and shall not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful. Investors and securityholders of EdtechX are urged to read the preliminary proxy statement and definitive proxy statement and the registration statement and other relevant documents that will be filed with the SEC when they become available.