Users host and participate in live lectures or personal tutoring sessions on a range of subjects using a wide variety of teaching tools we provide, including video, PowerPoint, white board, screen shots and Q&A sessions.
In February 2014 we launched 100 Education as our dedicated education platform, providing premium content through the web portal 100.com. In order to further strengthen the education vertical and enhance our offerings, we acquired two businesses during the last quarter of 2014 – edu24ol.com and Mr. Zheng and His Partners Education Technology Co., Ltd. Edu24ol.com is an online education website, primarily focusing on professional training in subjects such as construction engineering, finance and accounting, and medical. Mr. Zheng and His Partners Education Technology Co., Ltd is an education group specialising in coaching and exam preparation for International English Language Testing System (“IELTS”).
We did not generate revenue from online education until the beginning of 2015. In the first quarter, it generated US$ 3.6m revenue from tuition fees charges.