Former Morgan Stanley investment banker joins as the new Chairman
TutorABC has been acquired by a group of
international investors and announces
plans for further expansion
in Taiwan and to other international markets
Targeting the USD 115 billion global market for Chinese and English language
learning.
(Taipei City)---TutorABC, the world’s leading online educational and language learning platform, officially announces today that it has been acquired by an international group of American and British investors with extensive experience in the education, international e-commerce, and finance industries.
The
investor group is led by Samuel Yang, CFA, a former Morgan Stanley and Merrill
Lynch investment banker, who will serve as the Company’s new Chairman. Previously
he managed over USD 3 billion and specialized in venture capital, pre-IPO, and
IPO investments. He also has a strong background in education. He has
represented Kaplan in Taiwan for over 20 years, is a CFA instructor (for CFA Levels 1, 2, and 3),
is the primary trainer for Credit Suisse’s internal private banking training
programs in Asia, and through his family’s non-profit organizations (The Yang
Foundation and Kingdom Education Foundation), provides a comprehensive range of
educational programs to over 160 schools in over 30 countries around the world.
Expanding
in Taiwan and to other International Markets
The
new investor group aims to transform TutorABC into a global organization that will
fully dominate both its home market in Taiwan and other international markets.
The
Company will expand its TutorMing Chinese learning courses targeting the USA,
UK, Canadian, and Australian markets.
The
Company will also expand both its English (TutorABC and tutorJr) and Chinese (TutorMing)
language courses throughout Asia. It will specifically target Japan, Korea,
Indonesia, Thailand, Vietnam, and Hong Kong.
The
Company also sees exciting new opportunities to further develop the European, Indian,
and the Middle Eastern markets.
“We
are tremendously impressed with the strength of the Company’s brands, its patented
AI / big data technologies, and the vast experience and professionalism of the
management team. We will continue to strengthen TutorABC’s position as the leading
standard in the global education technology industry,” says Chairman Yang.
Launching
TutorMeet+ (a new B2B Online Education Platform for Companies and Schools)
TutorABC plans to launch TutorMeetCloud in Taiwan, an advanced new learning management platform for companies and schools to securely deliver all their training programs and classes online. The TutorMeetCloud platform has already been used internally for its online programs for over 10 years, with more than 50 million classes held. In addition, it has recently been tested with several elementary and high schools online, reaching over 40,000 students.