China Communist Government's regulatory crackdown on the nation's for-profit education industry has resulted in over 200,000 people being laid off and $100 billion lost, according to an analysis by ClassCentral.com. Last year, after a series of fines and restrictions, China's Government ended up with a harsh regulation that marked the end of an era for the for-profit tutoring industry in China. Education stock plummeted by 90% (as shown in the graphic below), and many companies went bankrupt. This collapse also affected to stock prices of Chinese companies listed in the U.S. and Hong Kong. Additionally, these measures impacted tens of millions of students from kindergarten through grade nine. . Company Market Cap (Feb 16, 2021) Market Cap (Jul 26, 2021) Market Cap (Jan 24, 2022) Loss* New Oriental Education & Technology Group Inc. (EDU) $33.49B $3.27B $2.78B -$30.71B TAL Education Group (TAL) $52.54B $2.84B $2.44B -$50.10B GSX Techedu Inc. (GOTU) $27.67B $0.64B $0.63B -$27.04B Youdao, Inc. (DAO) $4.25B $1.06B $1.76B -$2.49B China Online Education Group (COE) $0.55B $0.06B $0.04B -$0.51B Total $118.5B $7.9B $7.7B -$110.9B * The market cap loss is calculated from Feb 15, 2021 to Jan 24, 2022. • The Report of ClassCentral.com
Today's girls should become tomorrow's scientists and innovators. This is the message that United Nations officials have started to launch as a way to reduce the gender gap in science, technology, engineering, and STEM disciplines around the world. UN's Secretary-General Antonio Guterres said that "today only one in three science and engineering researchers in the world is a woman." He explained that structural and societal barriers prevented women and girls from entering and advancing in science. The Covid-19 pandemic has increased these inequalities. Science and gender equality are part of the United Nations' 2030 Agenda for Sustainable Development. Experts agree this under-representation of women is depriving science of huge untapped talent. As a solution, UN officials are calling to change educational policies and set policies intended to fill classrooms with girls studying technology, physics, engineering, and maths. The consensus is that this advancement should take in the field of Artificial Intelligence (AI), a branch of computer science that is present in everyday life.
This month, Coursera (NYSE: COUR) announced three new master's programs showing that it is betting on degrees as an important revenue source for its growth. The three new distance learning programs are: Master of Science in Applied Data Analytics from the Queen Mary University of London. Applications are expected to open in May 2022. Master of Engineering in Engineering Management from the University of Colorado, Boulder. This degree features performance-based admissions, with no application or transcripts required. Passing a pathway Specialization will lead to acceptance into the program. This is the third degree from CU Boulder offered on Coursera. Enrollments are expected to open in August 2022. Master of Science in Cyber Security from the University of London. This is the third degree with academic direction from Royal Holloway on the Coursera platform. Applications are expected to open in June 2022. Overall, the admission details of these programs will be available in the spring. "These new programs from leading universities in the US and UK will equip learners across the globe with skills in rapidly growing areas including data analytics, cyber security, and business management," said Betty Vandenbosch, Chief Content Officer at Coursera. "They will help students accelerate their careers in our digital economy," she added. With these additions, Coursera now offers 37 degrees from 19 global universities. A study from the National Association of Colleges and Employers (NACE) showed that a master's degree in business leads to a 51% average increase in earnings in the US compared to a bachelor's degree.
Private investment firm Veritas Capital announced yesterday the acquisition of learning technology firm Houghton Mifflin Harcourt Company (Nasdaq: HMHC) for $2.8 billion. The purchase price per share of $21 in cash represents a 36% premium to the company's unaffected share price as of January 13, 2022 ($20.88). "We are at an important inflection point, and the time is right to move into the next phase of our long-term growth strategy," said Jack Lynch, President and Chief Executive Officer of HMH, who will continue to lead the company along with the current management team. The agreement was unanimously approved by HMH's Board of Directors. The transaction is expected to be completed in the second quarter of 2022. Boston-based Houghton Mifflin Harcourt (HMH) is a leading provider of K–12 schools and educators, claiming to serve more than 50 million students and four million educators in 150 countries.
San Mateo, California – based Engageli announced this month the launch of version 2.0 of its learning platform. This release allows instructors to teach directly from a web browser while learners can join a session via a browser or a native iOS app, said Dan Avida, Co-Founder and CEO. Its new reporting identifies students at-risk. Other capabilities and enhancements include native integration with the whiteboard platform Miro. Launched in 2020, when the pandemic started, Engageli features virtual tables with students clustered together in smaller groups of up to 10 students each, promoting peer-to-peer learning and discussion. Students also have access to threaded Q&A, notetaking, and chat functionalities so they can interact with their peers and instructors. Founded in 2020 by Dan Avida, Dr. Serge Plotkin, and Dr. Daphne Koller, Co-Founder of Coursera and Insitro, Engageli has raised over $47 million in funding. .
