Everything Cindy Mi said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Chinese families spend 15% of income on supplemental education versus US's 2%
“The market size is about fifteen billion US dollars parents spending every year. And then Chinese parents value education as investments. So from around 15% of our household income goes to supplemental education. Compared to two percent in the US.”
VIPKID has grown to more than 60,000 teachers
“And today VIP kid has more than 60,000 teachers. It's almost three times of the supply.”
Daily 15-minute language practice beats weekly two-hour classes
“If one can spend 15 minutes a day to learn the language, it's much more effective than 15 minutes times seven put into a two hour weekend class because More frequency helps memorizing better and utilizing the language in a much more effective way as a tool.”
Cindy Mi: VIPKID took 18 months to reach product-market fit
“It took us a year and a half to understand that product market fit.”
Sinovation Ventures helped VIPKID recruit three of its first four students
“We started with actually four students.
Because we cannot find the fifths.
Or the fifth students.
Yeah, and Sinovation Ventures, Dr. Kaifu Lee.
They had to help us find the first three.”
Cindy Mi: VIPKID reduced one-on-one tutoring costs for parents by over 50%
“We have lowered significantly the one-on-one learning experience, the cost for the parents by more than 50%.”
Cindy Mi: VIPKID pays teachers about $20 per hour
“VIPKID brings value to our teachers in a way that we pay our teachers about 20 US dollar per hour.”
Cindy Mi: Single Weibo post drove 2,000 VIPKID sign-ups in one day
“And she posted on, on Weibo. So about 2000 parents sign up for the day, and we took her three months to call them back.”
Cindy Mi: VIPKID employs 10,000 colleagues
“I think for VIP kids, the core of its success is because parents, teachers, our colleagues, all 10,000 of them, ultimately what we want is student success.”
VIPKID executives start their day listening to 10 customer support calls
“Our team are many of our wake up calls are a set of 10 customer phone calls from the previous day. Some of us would do it nine a.m. On the way to work seven a.m. On the way to like doing on the in the gym, or for me, six to 30 a.m. To listen to all those custo…”
Cindy Mi dropped out of high school to tutor English part-time
“So I dropped out of high school when I was in, in the 11th grade, but nevertheless, I was very lucky because I started tutoring young kids English when I was 15 years old part time.”
Texas provides the largest share of VIPKID teachers
“Texas is our largest teacher state.”
Cindy Mi personally interviewed VIPKID's first 20 teachers
“I personally interviewed and persuaded our first 20 teachers.”
Y COMBINATORLEDGER