Meten EdtechX Establishes TikTok Multi-Channel Network to Address Digital Education Market

SHENZHEN, China, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Meten EdtechX” or the “Company”), a leading omnichannel English language training (“ELT”) service provider in China, today announced that it has established the TikTok multi-channel network (“MCN”) to address the digital education market.

Likeshuo, the online ELT platform incubated by Meten EdtechX, established the TikTok MCN in August 8, 2020 and has been providing internet celebrity ELT short videos on TikTok since August 8, 2020, which has engaged over 200 internet celebrities to record short videos and has over 300 million cumulative views as of January 2021. Meten EdtechX is committed to enhance its brand awareness on TikTok multi-dimensionally by leveraging the Company’s foreign teacher resources, and providing ELT vertical video content with multiple accounts and through multi-channel marketing.

TikTok short videos attract tremendous traffic efficiently with low customer acquisition costs, which enables the Company to increase its brand awareness and becomes a new growth point of the Company. TikTok’s large and growing monthly active user base (MAU) is likely to provide Likeshuo with additional opportunities for brand exposure. Compared with the traditional marketing approaches, such as advertisements, the experiential marketing nature of video content makes it more compatible with the long conversion chain of decision-making products such as education. Using the front-end traffic from TikTok as a channel for brand building and communication, short videos as an emerging traffic dividend can help Likeshuo gain a large number of customers in a short period of time.

About Meten EdtechX

Meten EdtechX is a leading ELT service provider in China, delivering English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). It offers superior teaching quality and student satisfaction, which are underpinned by cutting edge technology deployed across its business, including AI-driven centralized teaching and management systems that record and analyze learning processes in real time.

The Company is committed to improving the overall English language competence and competitiveness of the Chinese population to keep abreast of the rapid development of globalization. Its experienced management is focused on further developing its digital platform and expanding its network of learning centers to deliver a continually evolving service offerings to a growing number of students across China.

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Safe Harbor Statement

This announcement contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the impact of the COVID-19 outbreak, our ability to attract students without a significant decrease in course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and enhance our “Meten” brand; our ability to effectively and efficiently manage the expansion of our school network and successfully execute our growth strategy; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the English language training sector in China; changes in our revenues and certain cost or expense items as a percentage of our revenues; the expected growth of the Chinese English language training and private education market; Chinese governmental policies relating to private educational services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.

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