April 12, VIPKID, China’s online language education giant, issued a stern statement, The Company has been hit with a massive, organized and sustained cyber rumor campaign since March 31, and a small number of friends have also been involved in spreading the rumor. VIPKID responded that it had filed a complaint with the Beijing Public Security Bureau against the massive "cyber" attack and firmly relied on legal means to safeguard the company's legitimate rights and interests, reported Jingmeiti.
Below are the details of the statement issued by VIPKID in response to the rumors;
In March this year, the number of VIPKID students exceeded 600,000 and over 70,000 foreign teachers in North America. The single-month income reached a new high, the market share and dominant position were further strengthened.
However, Since March 31, VIPKID has been subjected to massive, organized and sustained cyber-rumor attacks, and a small number of friends have also been involved in the spread of the rumors. In this regard, VIPKID solemnly declares the following.
• VIPKID is in good operating condition and has a study cash flow. The workplaces in Beijing, Shanghai, Chengdu and Dalian are still expanding, and the opening of Shenzhen workplace was officially announced in March.
• Concerning the cyber the large-scale "cyber" attack, we have reported to the Beijing public security agencies, and will report to the relevant Central Government departments! We firmly rely on legal means to safeguard the company's legitimate rights and interests!
• The continued spreading of these rumors has also caused a great deal of trouble to parents and partners who trust VIPKID. We hereby promise: to never tolerate any kind of rumors.
• At present, the National Network Information Office is carrying out the “Special Action for Network Ecological Governance”. We also warn some friends: Please give up the "black PR" thinking! We call on relevant government departments to pay attention to malicious competition and maintain good, orderly and healthy development of the industry.
The soul of education is to educate people, and the way of education is to conscience. We also call on industry peers to work together to create a better learning environment for children and to create a better world.
As reported by EqualOcean earlier VIPKID has went through some tough times not very long ago. Last year VIPKID, leading online education company, announced on their official website that they had cooperated with Walt Disney Company, to which Disney replied that there has been no business cooperation of any sort between the two companies. Even if a huge company like Disney had business cooperation with VIPKID why would it suddenly deny it? Well, that is because Disney is very strict when it comes to copyrights and they do not want any company violating that in the name of cooperation. Read more on this.
VIPKID is one of the largest online English tutoring companies in China, which has a valuation of around USD 1.5 billion. It matches over 70,000 teachers in North America and Canada with over 600,000 Chinese students of ages 4 to 12. The student retention rate is 95%, and its revenues for 2018 were USD 760 million, up from USD 300 million in 2017. VIPKID was ranked 29nth on the 2018 World’s Most Innovative Companies list and 2nd among Chinese companies.