UMeWorld Provides Corporate Update
HONG KONG, CHINA / ACCESSWIRE / May 2, 2017 / UMeWorld (OTC PINK: UMEWF) today announces a corporate update.
On April 3, 2017, UMeWorld launched UMTang into the K-12 private tutoring market. UMeWorld has identified the un-standardized, home-based, K-6 noon-care and after-school tutoring sector as UMTang's entry target for this market. The Chinese K-6 school system requires students to leave school premises between noon and 2:30PM for a lunch break, with school then continuing until 4:30PM. According to market research, up to 40% of K-6 students require some sort of noon-care and/or after-school tutoring services, currently provided by independently operated, home-based, non-standardized centres. A typical home-based noon-care, tutoring centre services 10 students, earning an average of US$2,000 per month. Each UMTang centre, by comparison, services students in a standardized setting, offering many unique services and features, including a centralized payment settlement system, real-time monitoring by parents, daily behavioural reports, weekly assessment reports, collaborative teaching and the proprietary online learning tools of UMFun. UMeWorld believes UMTang will set a very high standard of service in this market sector that current independent operators will be unable to match. Furthermore, UMeWorld's market research indicates that parents will be willing to pay a premium for the upgraded environment and learning features that UMTang offers.
There are over 98 million K-6 students in China's K-12 system - a large market in which UMTang's superior educational offering can be preeminent. Through a partnering program with existing noon-care tutoring operators, UMeWorld intends to establish 1,000 UMTang centres in the City of Guangzhou in 2017, as a near-term revenue producer. Since this tutoring model is readily scalable, UMeWorld plans to expand UMTang services into other Chinese cities via an O2O (online-to-offline) strategy that converts existing UMFun K-6 subscribers into UMTang users as an intermediate-term revenue source.
Since the introduction of the UMTang partnering program on April 17th, 2017, 35 independent operators have joined UMTang, which makes UMTang the largest noon-care tutoring operator in the City of Guangzhou measured by service location.
UMeWorld is an internet technology company with a focus on the K-12 education market in China. UMFun, the Company's flagship product, is a cloud-based, adaptive learning and assessment platform that can intelligently analyze and adapt to a student's performance and personalizes the delivery of proprietary educational items in accordance with the student's learning needs. UMFun's off-school version is made available to Chinese K-12 students through China Mobile, the world's largest mobile service provider by network scale and subscriber base, serving over 823 million customers.
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Released May 2, 2017