VIPKID Included in BrandZ’s Top 100 Most Valuable Chinese Brands
VIPKID after just five years of its founding has become the 94rth most Valuable Chinese brand on the top 100 list released by BrandZ.
VIPKID, China’s English teaching unicorn was recently named the 94rth most valuable brand in the BrandZ Top 100 Most Valuable Chinese Brands report released by WPP and Kantar. Alibaba, Tencent, and ICBC are the first, second and third on the list respectively.
“It’s an honor to be included on this list of outstanding brands,” said VIPKID Founder and CEO Cindy Mi. “To be recognized after only five years in the marketplace is a testament to the dedication of our team to our mission and vision of building a global classroom.”
Founded in 2013 and formally launched in 2014, VIPKID has become China’s market-leading online education startup, attracting investment from Tencent, Coatue Management, Sequoia Capital, Sinovation Ventures, Yunfeng Capital, Matrix Partners, Learn Capital, Northern Light VC, and Bryant Stibel, among others.
VIPKID 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.
Cindy MI was also invited to speak on a roundtable at BrandZ’s summit on May 6th in Beijing. Joined by other CEOs and leaders, including Haier President and Vice Chairman Yunjie ZHOU and Kantar CEO Eric SALAMA, and speaking to an audience of over 1,000 executives, government officials, investors, and media, Mi explained how VIPKID has maintained a global mindset while scaling quickly in a competitive and evolving market.
Another Chinese brand on the list is Huawei which was ranked sixth, consistent with last year. Huawei’s brand value was USD 33.1 billion, representing a year-on-year increase of 38%. Xiaomi is at number 11 with a brand value estimated at USD 20.6 billion.
The BrandZ ranking measures value based on a deep understanding of what motivates consumers, how to fulfill their expectations and how to build powerful and valuable brands that consumers and investors love.
Another list was released by the same brand-building platform BrandZ of the top 50 most valuable brands from China which are competing on the global scene. Huawei recorded the strongest performance in the overseas market in the past two years and that the company’s brand value increased by 22% compared to 2018. Huawei was followed by Lenovo, Alibaba, and Xiaomi on the second, third and fourth places respectively. Huawei’s dominance in several markets outside China is undisputable especially compared to other Chinese phone brands.
Created by WPP and Kantar, BrandZ is the world's largest and most definitive brand building platform with a series of brand valuation rankings that allow business owners to understand the financial contribution their brand makes to their business.
First launched in 2011, the report combines rigorously analyzed market data from Bloomberg with extensive consumer insights from over 3.7 million consumers around the world, including opinions from nearly 290,000 Chinese consumers on over 1,100 brands. Notably, the total value of the top 100 brands in China increased by 30% this year, the highest annual rise since the ranking was launched.