|By PR Newswire||
|January 27, 2014 03:00 AM EST||
BEIJING, Jan. 27, 2014 /PRNewswire/ -- TAL Education Group (NYSE: XRS) ("TAL" or the "Company"), a leading K-12 after-school tutoring services provider in China, and Babytree, Inc. ("Babytree"), the operator of a leading online resource and community platform for prospective and new parents, jointly announced today that TAL made a minority equity investment in Babytree for an all cash consideration of approximately US$23.5 million.
Founded in 2007, Babytree operates Babytree.com, a digital resource and community platform for pregnancy and parenting that caters to Chinese new and prospective parents both in Greater China and overseas. The Babytree website and its mobile applications offer expert advice and support on care-taking, development and health for prospective and new parents. Babytree addresses five stages of early parenting: preparation for pregnancy, pregnancy, infants (0-1 years), toddlers (1-3 years) and young children (3-6 years). Babytree has also pioneered a fast-growing online-to-offline business with its "Mika (Growing World)" branded subscription service, whereby parents receive a box monthly with books, multi-media games and toys to support their child's development at every stage.
"We are excited with our investment in Babytree as we believe it will help us gain insight into early childhood development and learning, which complements and extends TAL's existing online presence in the pre-K to college space," said TAL's Chairman and Chief Executive Officer, Mr. Bangxin Zhang. "Babytree has built a much talked-about online and mobile brand as well as online-to-offline subscription services around China's vast community of young parents. Our investment in this company aligns well with our vision to position TAL at the intersection of where education meets technology. It also suits our business strategy to date, that as we enter new verticals or geographical areas we explore online community first to understand new customers and markets."
"We are delighted to bring in TAL as a strategic stakeholder in Babytree. As a leading player in the tutoring sector, TAL is at the forefront of embracing innovative technology as it explores new online and mobile approaches to learning. We view this investment by TAL as a sound endorsement of Babytree's status as the leading online and mobile parenting platform that caters to pregnancy to pre-school families in China. With a strong commitment to enhancing the parenting experience via online communities and best-in-class online tools and high-quality content, Babytree in its six plus years of history has become the desired channel for reaching China's new parents and families for top brands, manufacturers and content providers. We look forward to bringing TAL, a partner that is dedicated to providing resources and development for the long-term advancement of education in China, into the Babytree community. We believe that this investment and ensuing collaborations also signal the general openness of Babytree to bringing all relevant best-in-class products and services to our massive user population," said Allen Huainan Wang, co-founder and Chief Executive Officer of Babytree.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, TAL Education Group's strategic and operational plans in this announcement contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified teachers; its ability to improve the content of its existing course offerings and to develop new courses; its ability to maintain and enhance its brand; its ability to maintain and continue to improve its teaching results; and its ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company's reports filed with, or furnished to the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.
About TAL Education Group
TAL Education Group is a leading K-12 after-school tutoring services provider in China. The acronym "TAL" stands for "Tomorrow Advancing Life," which reflects our vision to promote top learning opportunities for Chinese students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive tutoring services to students from pre-school to the twelfth grade through three flexible class formats: small classes, personalized premium services, and online courses. Our tutoring services cover the core academic subjects in China's school curriculum including mathematics, English, Chinese, physics, chemistry, and biology. The Company's learning center network includes 265 physical learning centers as of November 30, 2013, located in fifteen key cities in China: Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Wuhan, Xi`an, Chengdu, Nanjing, Hangzhou, Taiyuan, Zhengzhou, Chongqing, Suzhou and Shenyang. We also operate www.eduu.com, a leading online education platform in China. Our ADSs trade on the New York Stock Exchange under the symbol "XRS." For more information, please see http://en.100tal.com.
Babytree is the operator of a leading online parenting platform, Babytree.com, where new and prospective parents from pregnancy to pre-K gather to acquire parenting knowledge, share parenting tips, and document baby's growth via photos, videos and diaries. Babytree.com along with its mobile applications has a monthly reach of over 80 million unique visitors (new and prospective parents), and today is a leading online parenting community in China. To fulfill its mission of connecting parents and better raising the next generation, Babytree has also pioneered an online-to-offline content business with a subscription-based and monthly delivered box of multi-media content that provides timely and interactive educational experiences for the home to China's pregnancy to pre-school families. Allen Huainan Wang co-founded Babytree in 2007 with Bo Y. Shao and Jonathan Sun. For more information, please see http://www.babytree.com.
For further information, please contact:
TAL Education Group
Email: [email protected]
Tel: +31 6 5462 4301
Email: [email protected]
Email: [email protected]
SOURCE TAL Education Group
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications U...
Apr. 27, 2015 01:30 PM EDT Reads: 4,429
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises. For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives. The value addition comes from improved customer service, innovative product and additional revenue streams. The data from these IP-connected devices can be leveraged for a variety of business applica...
Apr. 27, 2015 01:00 PM EDT
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of ...
Apr. 27, 2015 01:00 PM EDT
ProfitBricks, the provider of painless cloud infrastructure IaaS, today released its SDK for Ruby, written against the company's new RESTful API. The new SDK joins ProfitBricks' previously announced support for the popular multi-cloud open-source Fog project. This new Ruby SDK, which exposes advanced functionality to take advantage of ProfitBricks' simplicity and productivity, aligns with ProfitBricks' mission to provide a painless way to automate infrastructure in the cloud. Ruby is a genera...
Apr. 27, 2015 01:00 PM EDT Reads: 1,085
Onset Technology, the creator of the OnPage App, is one of the local companies recognized as having enhanced the positive image of its organization through service to their customers and its community, while at the same time making the Waltham area a great place to live, work and play. Judit Sharon, Onset Technology CEO commented: "We are thankful for the recognition and very proud of our dedicated team and industry leading SaaS products. Knowing that Waltham is a globally recognized and high...
Apr. 27, 2015 12:46 PM EDT
Database apps on mobile devices shouldn't stop working when there's limited or no network connectivity. In his session at 16th Cloud Expo, Bradley Holt, a Developer Advocate for IBM Cloudant, will discuss how to bring data stored in a cloud database to the edge of the network (and back again), whenever an Internet connection is available. He will demonstrate techniques for replicating cloud databases with mobile devices in order to build offline-enabled mobile apps that can provide a better,...
Apr. 27, 2015 12:35 PM EDT
Modern Systems announced completion of a successful project with its new Rapid Program Modernization (eavRPMa"c) software. The eavRPMa"c technology architecturally transforms legacy applications, enabling faster feature development and reducing time-to-market for critical software updates. Working with Modern Systems, the University of California at Santa Barbara (UCSB) leveraged eavRPMa"c to transform its Student Information System from Software AG's Natural syntax to a modern application lev...
Apr. 27, 2015 12:15 PM EDT Reads: 1,785
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...
Apr. 27, 2015 12:00 PM EDT Reads: 1,708
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
Apr. 27, 2015 12:00 PM EDT Reads: 1,678
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of C...
Apr. 27, 2015 12:00 PM EDT Reads: 1,801
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Apr. 27, 2015 12:00 PM EDT Reads: 2,329
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
Apr. 27, 2015 11:00 AM EDT Reads: 3,591
Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting we...
Apr. 27, 2015 11:00 AM EDT Reads: 2,117
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch ...
Apr. 27, 2015 11:00 AM EDT Reads: 2,892
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on T...
Apr. 27, 2015 11:00 AM EDT Reads: 2,117