Global Online Education and Language Learning TutorABC Acquired by US-British Investors

- 26 January 2022 16:50 WIB
Former Morgan Stanley investment banker Samuel Yang, CFA, invests in & joins TutorABC as the new Chairman (Photo courtesy of PR Newswire)
Former Morgan Stanley investment banker Samuel Yang, CFA, invests in & joins TutorABC as the new Chairman (Photo courtesy of PR Newswire)

JAKARTADAILY.ID – TutorABC, an international online educational and language learning platform, announced on Tuesday that it has been acquired by an international group of American and British investors with strong experience in the education, international e-commerce, and finance industries.

In a statement made available via PR Newswire site, it said former Morgan Stanley investment banker joined as the new chairman. Under the new ownership, TutorABC is targeting the $115 billion global market for Chinese and English language learning.

The statement mentioned that 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 $3 billion worth of assets and specialized in venture capital, pre-IPO, and IPO investments.

He is also known to have a strong background in education.

Samuel Yang has represented Kaplan in Taiwan for over 20 years, is a CFA instructor (for CFA Levels 1, 2, and 3).

He was 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), he 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 seeks 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.

The company will specifically target Japan, Korea, Indonesia, Thailand, Vietnam, and Hong Kong. 

The company's statement also said the new management and investor also sees exciting new opportunities to further develop the European, Indian, and 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.


Editor: Suksmajati Kumara


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