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{{short description|Global EdTech company}}
{{Infobox company
| name = VIPKid
| logo = File:VIPKID Logo.png
| type = [[Privately held company|Private]]
| industry = {{unbulleted list
| [[Education]], [[Educational Technology]]
}}
| founded = {{Start date and age|2013|10}}
| founders = [[Cindy Mi]], Jessie Chen, and Victor Zhang <br>
| hq_location_city = Singapore
| hq_location_country = Singapore
| website = https://vipkid.com
}}
'''VIPKid''', also known as '''VIPKID''', is an [[Educational technology|online teaching]] and education company.
==History==
Founded in 2013 and formally launched in 2014 by [[Cindy Mi]], the VIPKid platform connects paying students with teachers in the United States and Canada.<ref>{{Cite news|url=https://www.nytimes.com/2019/03/02/business/new-work-summit-excerpts.html|title=Excerpts From the New Work Summit|date=2019-03-02|work=The New York Times|access-date=2019-08-14|language=en-US|issn=0362-4331}}</ref><ref>{{Cite web|url=https://apnews.com/Business%20Wire/7909cdbd72e941c1b842ec25406e0582|title=VIPKid Joins BrandZ's Top 100 Most Valuable Chinese Brands Five Years After Its Founding|date=2019-05-06|website=AP NEWS|access-date=2019-08-14}}</ref> Its online-classroom portal enables students to receive 25-minute English language lessons from fluent English-speaking teachers.<ref>{{Cite web|url=https://blog.vipkid.com/the-quick-guide-to-teaching-with-vipkid/|title=The Quick Guide to Teaching with VIPKid|date=2020-04-21|website=VIPKid Blog|language=en-US|access-date=2020-06-08}}</ref><ref>{{Cite web|url=https://www.internationalteflacademy.com/video-library/teaching-english-online-vipkid-panel|title=Teaching English Online With VIPKID|date=2018-10-18|website=International TEFL Academy|language=en-US|access-date=2020-07-16}}</ref> Students and teachers communicate via its [[video chat|global classroom]] platform.<ref>{{Cite web|url=http://cdmd.cnki.com.cn/Article/CDMD-10151-1018287717.htm|title=VIPKID培训公司发展策略研究--《大连海事大学》2018年硕士论文|website=cdmd.cnki.com.cn|access-date=2019-02-05}}</ref>
In 2017, VIPKid launched a new service, Lingo Bus, to teach [[Mandarin Chinese|Mandarin]] to students of 5 to 12 years old.<ref name=":0">{{Cite web|url=http://www.chinadaily.com.cn/a/201808/28/WS5b84b9e8a310add14f388287.html|title=Lingo Bus extends Mandarin learning offering - Chinadaily.com.cn|last=董志成|website=www.chinadaily.com.cn|access-date=2019-02-05}}</ref><ref>{{Cite web|url=https://technode.com/2018/08/30/big-chinese-abroad/|title="Big Chinese" is edtech's next big thing, but its path overseas is unclear · TechNode|date=2018-08-30|website=TechNode|language=en-US|access-date=2019-02-05}}</ref>
In 2017, VIPKid reported that it had raised $200 million in initial series funding,<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2017-08-23/china-s-vipkid-raises-200-million-from-tencent-sequoia-china|title=China's VIPKid Is Said to Raise Funds at $1.5 Billion Valuation|website=[[Bloomberg News]]|date=23 August 2017 }}</ref> and in April 2018 raised an additional $500 million in series D+ funding.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20180621005418/en/VIPKID-Raises-500-Million-Series-Financing-Led|title=VIPKID Raises $500 Million in Series D+ Financing, Led by Coatue Management, Tencent, Sequoia Capital and Yunfeng Capital|date=2018-06-21|website=www.businesswire.com|language=en|access-date=2019-02-05}}</ref><ref name=":3">{{Cite web|url=https://techcrunch.com/2018/06/21/chinas-vipkid-which-links-native-english-speakers-with-online-learners-raises-another-500m-reportedly-at-3b-valuation/|title=China's VIPKID, which links English tutors with online learners, raises $500M at $3B+ valuation|website=TechCrunch|date=21 June 2018 |language=en-US|access-date=2019-02-05}}</ref> Combined, this amount equated VIPKID's valuation to $3 billion.<ref name=":3" /> As of November 2018, the company reported having 60,000 contracted teachers  to teach 500,000 students.
In May 2020, VIPKID announced that all current teachers would gradually transition to a new service fee structure and the base rate adjustment policy will be phased out. This will effectively result in a pay reduction for the vast majority of their teachers.<ref>{{Cite web|url=https://theborderlessteacher.com/complete-vipkid-guide/|title=The #1 Guide To Teaching With VIPKID|date=2020-06-01|website=The Borderless Teacher|language=en-US|access-date=2020-06-01}}</ref>
In 2021 the company stopped providing services in China involving teachers based abroad.<ref>{{cite web|url=https://www.reuters.com/world/china/vipkid-stop-selling-foreign-based-tutoring-students-china-2021-08-07/|title=VIPKid to stop selling foreign-based tutoring to students in China|publisher=[[Reuters]]|date=2021-08-07|accessdate=2021-08-08}}</ref> China-based customers will use Chinese citizen teachers in China or teachers residing in China who have teaching licenses.<ref>{{cite web|last=Feng|first=Coco|url=https://www.scmp.com/tech/policy/article/3144479/vipkid-latest-chinese-education-firm-cut-student-access-overseas-tutors|title=Vipkid the latest Chinese education firm to cut student access to overseas tutors to comply with new policy |newspaper=[[South China Morning Post]]|date=2021-08-10|accessdate=2021-08-11}}</ref>
==COVID-19 pandemic==
In February 2020,<!--Assuming it's February from the date the source was published.--> VIPKid donated 1.5 million English and math classes to affected students from the [[COVID-19 pandemic]]. Students in the city of Wuhan, Hubei Province, and children of medical workers were given priority for free classes.<ref>{{Cite web |last1=Costello |first1=Becca |date=2020-02-18 |title=Nebraskans See Boost In English Language Classes As Chinese Kids Stay Home {{!}} netnebraska.org |url=https://nebraskapublicmedia.org/en/news/news-articles/nebraskans-see-boost-in-english-language-classes-as-chinese-kids-stay-home/ |access-date=2020-02-18 |website=netnebraska.org |language=en}}</ref>
== See also ==
*[[English education in China]]
*[[New Oriental Education & Technology Group]]
== References ==
{{Reflist}}
[[Category:Chinese companies established in 2013]]
[[Category:Language education in China]]