On May 16th, Tutoring, a mobile on-demand education platform, successfully attracted 715 thousand USD worth of strategic investment from Big Basin Capital, a venture capital firm based in Silicon Valley.
Tutoring is an application that connects native English speaking instructors abroad with students in real-time. After the official launch in the September of 2016, it acquired 40,000 users, and there has been an average of 22% new users on a weekly base.
The unique feature is that the users can practice speaking in English at anytime without reservations. This is especially popular among those that have irregular schedules such as salary men and freelancers.
In contrast to the existing English practice services, where users pay 40 USD for 200 minutes of conversation in English on the phone on a monthly base, Tutoring established a reasonable structure that attracts professional tutors by increasing the tutors’ compensation by 30%, and the users pay 50% less.
Since the beginning of 2017, Tutoring has acquired a variety of customers on top of individual customers, such as companies and organizations that have been focusing on English education for their employees. In particular, researchers at Korea Radio Promotion Association and Constitutional Court have already used the application to practice English with the native-speakers through Tutoring.
Big Basin Capital CEO Phil K. Yoon, who has been in charge of this investment, explained, “Tutoring proposed a English learning model perfect for modern people’s busy schedules, and in the last couple of months, the business model has proved its profitability.”
Tutoring Co-CEO MiHee Kim and KyungHee Choi announced, “Through this investment, we will add more languages, such as Korean and Mandarin, and work our way to become a global education company by expanding our market regions.”
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