04-Sep-2017 | Argie C. Aguja
The largest and fastest-growing online English language-teaching platform in China, 51Talk (also known as China Online Education Group) has announced a successful $72 million initial public offering (IPO) on the United States’ New York Stock Exchange (NYSE). The news was revealed during a press briefing last July 20, at the Jade Room of the Crown Plaza Galleria in Ortigas Ave. Pasig City.
The IPO makes 51Talk the only publicly listed Chinese company to make it to the NYSE this year. The move, widely seen as the initial impetus that will fuel the company’s expansion goals, will see intensified efforts to aggressively recruit the best Filipino teachers from all around the country. By going public, the company is expected to beef up their teaching body by putting stringent recruitment processes, guaranteeing that online teaching and learning expertise are up to world-class standards.
The company has now over 100,000 students in China taking interactive English lessons on demand from a nationwide network of more than 6,000-strong and highly qualified English as Second Language (ESL) teachers in the Philippines.
“The Philippines has made a name for itself as a top destination for quality English teachers. We at 51Talk go further by having an acceptance rate of 3 percent for our applicants, ensuring that we provide the highest standards in teaching our students. With this U.S. IPO, we expect to recruit more excellent English language teachers to our Chinese students. Its phenomenal growth has been fueled by the quality of English education it provides through its Filipino teachers, getting only the best of the best with strict recruitment processes,” says 51Talk director and Philippines country manager Shu Ting, who co-founded the company in 2011 and was instrumental in establishing operations in the Philippines since 2012.
Currently the biggest online English teaching platform in China and in the world, one of 51Talk’s key goals is to focus on the recruitment of quality Filipino teachers to add to the growing workforce. “51Talk is making home-based teaching opportunities available for Filipinos. Everything is done online, from application, to recruitment, to training and up training development. We also hold events and reach out to qualified individuals. We went to Cebu City, Bacolod City, Manila and coming soon, we would have an event in Bicol. We bring our trainers with us so we can improve the skills of our teachers,” Says 51Talk VP for Philippine Operations Jen Que.
The name 51Talk (pronounced as five-one-talk) may be translated as “I want to talk” because in Chinese, five sounds like the word “I” and one sounds like the word “want”. The company provides free training modules for qualified individuals and prepares them for an online education platform that features a unique one-on-one teaching model.
Students have optimal “talk-time” during lessons and teachers can take advantage of promising alternative careers with a full spectrum of teaching, learning, and earning opportunities. For more information, check out the website http://www.51talk.com/ph.