Trees and elite education, these teaching and training institutions are blooming everywhere, earning a lot of money through "model innovation", carefully digging their profit model, but cutting leeks accurately.
Long before they began to storm, in the winter of 2020, Zhang, the founder of Xuebajun, who had been in the front line of education and training, sent a letter, officially announcing the collapse of Xuebajun.
Although Xuebajun didn't do any financing in the three years from 20 18 to 2020, their source of funds was on tens of thousands of parents, and the course fee reached10000,20000, which was sky-high when accumulated.
On the Double Eleven and Double Twelve in 2020, Xuebajun is still vigorously promoting "one-on-one online service", with 30,000 parents renewing their fees and registration fee of 1.76 million, according to statistics, about 500 million. Soon after, Xuebajun collapsed, but where did this "tuition fee" go?
One,
Let's talk about Zhang, the founder of Xuebajun. During the period of study, he was a college student who learned to dominate the army and had early contact with capital.
He was admitted to Nankai University with full marks in physics and mathematics. With this achievement as an endorsement, he taught mathematics and physics to a group of senior three students in the summer vacation of his freshman year.
Facing hundreds of students, 20-year-old Zhang is both a "famous teacher" and a "successful person". He earned almost 1 10,000 in a summer vacation.
When he returned to school for a semester after class, he felt that his good years should not be wasted here, so he decided to drop out of school and start a business all the way to Beijing.
At first, Zhang's entrepreneurial direction was IT industry, and he wanted to make a phenomenal communication product. However, the amount of investment in this area is huge, and he can't get the principal, so he went to the investment summit. In the eyes of investors, this is indeed a good project. Young Zhang is also creative, but if he wants to make it, he must invest at least100000 yuan, and investors dare not take the risk.
So investors changed their direction and invested in Zhang. They said, "We are willing to provide you with funds, but you must change the project."
After careful consideration, Zhang decided to change careers, starting from the teaching and training industry he was familiar with, and successfully got an investment of 5 million yuan, and used this money to acquire a 5 1% stake in Ask Bar Education in one fell swoop, becoming the youngest CEO among Tianjin University students.
It's only a year or two since Zhang Gao finished the exam. He is quite familiar with family education and has won the trust of most parents. Under his leadership, ask it. Education received a large number of "one-on-one" orders in a short time. The company's running water has exceeded 100 million yuan a year, and Zhang is a preliminary success.
Competition in any industry is fierce. Not long after, Zhang, who was under pressure, chose to sell the problem bar to Amber. He quit and went back to school to continue his studies. Holding a huge amount of cash in his hand, he became an investor.
If the story ends here, Zhang can be regarded as a "successful person", but at about the same time, he is a colleague in the teaching and training industry and listed the company separately, which makes Zhang, who has been in the financial industry for several years, eager to get a chance to re-enter the teaching and training track.
Second,
20 12 Zhang once again "debuted" with Xue bajun. At this point, the offline track of the teaching and training industry has been blocked, and Xuebajun is doing the opposite and focusing on the online.
Xuebajun, Ape tutor and homework help were the first to make "search questions" products. These three companies appeared almost at the same time, and they threw out the same three axes: question bank, search questions and online question answering.
When choosing online education, Zhang can't use his previous successful experience to operate, because online basically uses the so-called "internet thinking" and accepts the "flow realization" set.
20 12 years, which happens to be the year when "internet plus" set sail. After Xuebajun was launched, many students downloaded it and used it, but the money was spent on research and development and saving teachers.
So in 20 13, Xuebajun got the first financing, and Zhang can continue to burn money to make traffic and expand the scale of Xuebajun.
Capital will not be invested in vain, and we must see returns. Soon after, Zhang tried "traffic realization", and some functions needed to be used at a cost. As a result, users began to decline, and this time the attempt to realize it ended in failure.
With a wave of his axe, Xuebajun dug deeper and deeper the hole of funds. Zhang has to consider his next move. In the case of fruitless thinking, he had to copy the homework of his peers. At that time, the "business model" explored by homework help and Ape Tutoring was online tutoring, so Xuebajun followed suit and made the realized product "Jun Jun Tutoring".
However, Xuebajun is different from his peers in that his peers are doing "big class tutoring" or "small class tutoring", while Xuebajun is doing "one-on-one tutoring" because Xuebajun entered the first two subdivision tracks late and lacked competitiveness at this time. It is better to gamble and enter the "one-on-one" with heavy resources and high cost.
Xuebajun has this confidence, because before that, he obtained financing of 65.438+0 billion US dollars, which not only filled the funding hole of "difficulty in realizing cash", but also launched an intelligent educational robot in June 2065.438+07 with the slogan "global subdivision, vertical training".
This year, through various operations, Zhang Leikai directly increased the number of users of Xuebajun from 25 million to 80 million, and successfully entered the front line of teaching and training with a valuation of 6.5 billion. However, the number of users of "Jun Jun Tutor" is only maintained at about 50,000 at the peak, because the registration fee is too expensive, and tens of thousands of users are not easily supported by any family.
Third,
Xuebajun has no financing channel since the C round of financing, and the only source of cash is Jun Jun's tutor. However, after three years of development, Xuebajun's physique has split into a "giant", with more than 3,000 employees and more than 1000 teachers.
Cash flow is the lifeblood of a company, especially an "Internet enterprise" like Xuebajun. In the cold winter of 2020, Xuebajun has been a bit shaky. Starting from June 5438+0 1, it's a bit hard to pay employees. In order to delay payment, Xuebajun applied for withdrawal.
In other words, employees, you can apply for salary, but it's up to me whether the date is paid or not.
This may indirectly relieve Zhang's pressure, but if you want to say that he has no money to pay his salary, it will be a bit discredited, because in the "online shopping tide" in 2020, about 30 thousand families of Xuebajun renewed their tutors. Although it is discounted, the price is still 1.76 million. If you add, subtract, multiply and divide, it's about 500 million.
Zhang can't deny this hard evidence data. Therefore, in 2020, the salary of 1 1 will eventually fall into employees' pockets, but 65438+2 is hard to say.
As the founder of the company, Zhang clearly knows the status quo of Xuebajun. Did he do anything to save himself? There must be. In 20 19, it took 1 100 million to build a new teaching and training base, which has not been officially put into use. At the end of 2020, Zhang completely gave up learning hegemony.
You must have found a way out. Therefore, in the wave after wave of "questioning tides" from employees, teachers and parents, Zhang took the lead in surrendering and issued an "internal letter" to officially announce the end of Xueba Army. Zhang also called on his peers to take over Xueba Army teachers and reissue their wages.
In short, there is only one sentence, learning hegemony is over, but your physique is still big, and you can still share the "relics".
Even if Zhang has handled the internal affairs well, there are more and more external condemnation, and the main force in this regard is the renewal of parents.
Some pay tuition fees through loans, and then pay back the money every month. Now they can't continue to attend the course of overlord, which is equivalent to taking one or two classes and spending one or two thousand yuan.
Moreover, Xuebajun's sales method has also been criticized. On the complaint platform, Xuebajun has more than 1 000 complaints. To sum up, it is difficult to refund fees and bundle sales. Many parents have an understanding attitude, but they don't know how to pay back the money every month.
Where did the accumulated 500 million flowers go? Without saying a word, Zhang became the legal person of two other companies the next day. In the winter of 2020, the winter of learning to be a tyrant is also the winter of many parents' families, as if only Zhang lit a bonfire to keep warm in the cold winter. Those teaching and training institutions that are still partying don't know if the next one will fall.
Looking back, Zhang, a teenager with double full marks, earned the first sum of 6,543,800 yuan in his life at a young age. Since then, he has been running wildly in the commercial and capital markets, with no intention of stopping at all. Now, Xueba Army has fallen, but Zhang seems to have disappeared with the 5 million tuition fees.