Elernity looks overseas
Print Edition
ELERNITY, the online education business under Hong Kong-listed NetDragon, expects new technologies like virtual reality and artificial intelligence as well as overseas expansion to boost its revenue.
In 2016, the online education business generated about 1.5 billion yuan (US$218 million), almost half of NetDragon’s total revenue. It was also the first time for NetDragon’s education revenue to surpass game income, said Emil Chen, Elernity’s vice president.
China’s online education market is valued at 173.4 billion yuan this year, up from 143.7 billion yuan in 2016, said research firm Zhilian.
Elernity is also exploring overseas markets as part of its expansion strategy.
Russia and Turkey are expected to become the company’s fastest growing markets in 2017, Chen said.
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