(Date 2021-06-15 13:48:25)
Clever Group continues to advance its EDTECH (education technology) ecosystem by the investment between its subsidiary - New Class Education Technology Corporation (LHM) and Lazi Technology Joint Stock Company (Lazi) on June 14, 2021.
At the investment signing ceremony, Clever Group highly emphasizes the potential of the online education market and keeps a high expectation for the promising and fruitful cooperation between LHM and Lazi.
Representatives of LHM and Lazi at the signing ceremony
Lazi is an educational technology platform, providing a useful space for the students to share and support one another in their academic journey. Lazi platform is very user-friendly and delivers great benefits to the students. In short, any student who has a question of any subject can post it on the Lazi platform and will almost immediately be answered. Lazi currently owns nearly 1 million questions, 2 million answers and nearly 1 million users interacting on the system.
Lazi is the second technology company to receive investment from Clever Group through LHM after VKids. Lazi is an important piece to the educational ecosystem of Clever Group, which contains selective educational products for 2-year olds to 12th graders. With Lazi and Vkids, Clever Group is confident in its educational ecosystem to provide comprehensive and multi-channel online solutions for Vietnamese children. This is quite a development for Clever Group’s technology ecosystem when it is not all about just marketing and online advertising anymore, but now also online education.
The potential of the online education market
Vietnam lies in the top 10 markets with the fastest growth in online education (e-learning) globally with a growth rate of 44.3% in 2018, according to research by Ambient Insight. The value of education technology (EdTech) startups and companies is estimated to exceed $300 billion by 2025. With a revenue growth rate being more than 40% per year, it is forecasted that the size of the Vietnamese market is going to go beyond 2 billion USD shortly.
Furthermore, under the impact of Covid-19, the demand for online studying is rocketing and is showing massive potential when students cannot directly go to schools or education centers any longer. Many schools and institutions have turned to online educational solutions to stay active and connect with students. It is proven to bring many benefits to all parties, from helping parents control teaching quality and follow up with children’s progress easily, to limiting commuting and human contact, after all, it is to ensure our children’s wellbeing. As a result, teachers, parents and students all have gotten used to and seen the advantages of online education. With this rapid adaptation from society, online education platforms are predicted to significantly develop and expand soon.
Lazi investment via its subsidiary not only demonstrates Clever Group's ambition to conquer the billion-dollar educational technology market, but also depicts its executive board's desire to improve the learning quality and experience of Vietnam students. With financial support and customer database, Lazi is expected to bring plenty of value to Clever Group's ecosystem soon.
Images taken at the Signing Ceremony:
Clever Group