Photo/Shetuwang

Mar. 19 (NBD) -- The Walt Disney Company ("Walt Disney") made a statement Monday saying it doesn't have any business cooperation with online education platform VIPKID, especially in China. 

VIPKID, founded in late 2013 and formally launched in 2014, is absolutely a "rising star" in China's children's English education industry. According to the Hurun Greater China Unicorn Index 2018, the online platform became the biggest "unicorn" in the education industry with a valuation of up to 20 billion yuan (3.0 billion U.S. dollars).  

Walt Disney's announcement came shortly after reports emerged stating the American entertainment conglomerate for the first time ever made its Disney Youth Education Series (Y.E.S.) available to VIPKID students under a joint action in Los Angeles. The Disney Y.E.S., consisting of a string of highly experiential learning programs, offers a one-of-a-kind learning experience that blends the magic of Disney with key educational contents.

The Chinese online English tutoring company indeed invited some of its students to participate in the Disney Y.E.S. at the Disneyland Resort in California, but the programs actually are open to students of all grade levels, Walt Disney noted. 

According to previous reports, the program VIPKID students participated in was a 3-hour interactive program called "Designing a Disney Story", which is aimed at developing storytelling skills and practice techniques used to bring some of the most beloved characters of all time to life. 

NBD learned from the official site of the Disney Y.E.S. that the interactive program is designed for groups of 10 or more, open to students in grades 3-12. The 1-day ticket which includes themed activity experience plus admission to Disneyland Park or Disney California Adventure Park is 110 U.S. dollars, with the price on a Value Day at 90 U.S. dollars. 

Right after Walt Disney's announcement, VIPKID made a response but didn't specify whether it has business cooperation with the American company. 

In its statement released via Weibo, the English education platform listed four of its events highlighting the presence of Walt Disney, including the shooting of two seasons of English teaching contents for kids at the Disneyland Resort in California and Disney World in Orlando and the launch of "VIPKID global classroom - a quest of dreams" at the Disney World in Orlando in addition to the participation of the Y.E.S. program. 

NBD tried to contact VIPKID for comments, but as of press time no response has been received. 

Despite a short history, VIPKID is widely recognized as a "dark horse" in the education industry. Even Michael Yu, founder and president of New Oriental Education & Technology Group Inc, spoke highly of the platform. He once stated, "If I were a pure investor, I would have invested in VIPKID a long time ago, as the company discovers new demand of parents." 

As of June 2018, VIPKID has finished eight financing rounds, having attracted investments from Sinovation Ventures, Sequoia Capital, Tencent Collaboration Fund, Yunfeng Capital, Matrix Partners, Learn Capital, Northern Light VC, Bryant Stibel Venture, etc. 

Despite the support from famous investors, it remains unknown whether the education platform has turned profitable as the marketing expenses of the whole industry stay high at present.

Email: lansuying@nbd.com.cn