{"id":17477,"date":"2021-09-14T08:00:00","date_gmt":"2021-09-14T08:00:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2021\/09\/14\/hong-kong-based-edtech-company-preface-sees-500-yoy-surge-in-revenue-overcoming-impact-of-pandemic\/"},"modified":"2021-09-14T08:00:00","modified_gmt":"2021-09-14T08:00:00","slug":"hong-kong-based-edtech-company-preface-sees-500-yoy-surge-in-revenue-overcoming-impact-of-pandemic","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2021\/09\/14\/hong-kong-based-edtech-company-preface-sees-500-yoy-surge-in-revenue-overcoming-impact-of-pandemic\/","title":{"rendered":"Hong Kong-based EdTech Company Preface Sees 500% YoY Surge in Revenue, Overcoming Impact of Pandemic"},"content":{"rendered":"

\n<\/p>\n

\n

HONG KONG SAR –\u00a0Media OutReach<\/a>\u00a0–\u00a014
\nSeptember 2021 – Preface<\/b>, the Hong
\nKong-based EdTech company, has announced the completion of its Series A funding
\nfrom prominent investor Sunlink Holdings (H.K.) Limited.\u00a0 Preface aims to tackle the issues raised by
\nHong Kong’s traditional education model, cultivate future global talents and promote
\ncoding as the world’s universal language<\/b>, facilitating Hong Kong to
\nstrengthen its connection with the world.<\/p>\n

\u00a0<\/p>\n

<\/p>\n

\u00a0\u00a0 Tommie Lo (front row, s<\/sdt>econd left), Founder and CEO of Preface, and
\nthe Management Team\u00a0 <\/h5>\n

\u00a0<\/p>\n

The global EdTech industry is worth
\nmore than US$100 billion. It is expected that the number of people learning
\ncoding in Hong Kong will reach one million in the coming five years[1]<\/sup><\/sup><\/a><\/sdt>. Despite
\nthe impact of the ongoing pandemic, Preface has seen a continued improvement in
\nits performance, with year-on-year revenue growth of 500% over the past 12
\nmonths under its unique “Decentralised Classroom” delivery model<\/b>,
\nhighlighting the growing momentum.<\/p>\n

\u00a0<\/p>\n

Tommie Lo, Founder and CEO of
\nPreface<\/b>, said: “Coding is the foundation for all kinds of modern
\ntechnology and will become the universal language of the future. Trusted by
\nMassachusetts Institute of Technology (MIT) and UNESCO in the provision of
\nprogramming education, Preface offers award-winning programming curricula to
\nglobal academia and leading multinational corporations. Through the
\nhigh-mobility classroom model we are initiating, coding education has been
\nrapidly popularising in Hong Kong. Our goal is to equip future talents in Hong
\nKong and around the world with this key language.” <\/p>\n

\u00a0<\/p>\n

“We are very excited to support
\nPreface in its Series A round of funding. In the digital transformation era, education
\nhas become one of the fastest-changing landscapes and we see enormous potential
\nfor the business. We trust that a forward-looking company like Preface can
\nrevolutionise the education industry through their innovative approach,” said Angus
\nChan, COO and CFO of Sunlink Holdings (H.K.) Limited<\/b>.<\/p>\n

\u00a0<\/p>\n

With the digitisation of society, cultivating global coding talents
\nhas become the responsibility of education <\/u><\/b><\/p>\n

A study[2]<\/sup><\/b><\/sup><\/b><\/a> indicates
\nthat over 64% of international companies and 51% of small and medium-sized
\nenterprises in Hong Kong have encountered difficulties in hiring innovative and
\ntechnological talents. Nearly 80% of Hong Kong companies need to strengthen the
\ndevelopment of artificial intelligence (AI) and related professional knowledge
\nfor their employees, showing that there is significant demand for training
\ncourses.<\/p>\n

\u00a0<\/p>\n

“Hong Kong is in danger of falling
\nbehind the rapid growth in technology globally. Nearly 30 countries around the
\nworld have included coding education as compulsory courses to enhance their international
\ncompetitiveness. However, Hong Kong’s education is limited by its traditional
\nframework, with coding education still being regarded as extracurricular study
\nrather than a core education subject. Hong Kong’s students will lag behind in the
\ndigital world which will reduce their competitiveness in the market,” Tommie
\nexplained.<\/p>\n

\u00a0<\/p>\n

As the first Asian teaching
\nplatform to win an award at “EdTech Summit in Europe”, the world’s largest
\neducation process programme, Preface Coding by Preface is committed to
\nnurturing talents and cooperating with universities around the world, such as
\nMIT and the University of California, Los Angeles (UCLA). Preface has also
\ndesigned official coding courses for top-<\/sdt>ranked universities in Hong Kong and co-organised
\nseminars and workshops with multinational technology companies and non-profit
\norganisations. Preface has now trained more than 10,000 students around the
\nworld.<\/p>\n

\u00a0<\/p>\n

Decentralised Classroom \u2013 solving issues raised by the traditional
\neducation model and fuelling innovation technology <\/u><\/b><\/p>\n

Preface’s innovative teaching concept provides
\na solution to tackle issues raised by the traditional education model. Its
\n“Decentralised Classroom” delivery model emphasises that students can
\nlearn from daily life, and that education should not be restricted by time and
\nplace. Students from Preface are able to choose how and where to attend coding
\ncourses as they prefer, receiving teaching materials according to real-time
\nanalysis and being matched with teachers through AI technology.<\/p>\n

The traditional education model is
\nlimited in its approach. Hong Kong, for example, is still using the
\n“one-to-many” classroom design that is an outmoded <\/sdt>education
\nconcept from the 19th century. Preface believes that
\nfuture education should no longer be restricted to one-way delivery; rather,
\nthe learning and teaching process require innovation to ensure that the
\nultimate goal of education \u2013 teaching students in accordance with their
\naptitude \u2013 can be achieved.<\/p>\n

Preface will use the latest round
\nof funding to further develop its business in major cities including Hong Kong,
\nTokyo and London, with a determination to popularise coding knowledge and make
\nit a universal\u00a0<\/sdt>language. The company aims to equip the new
\ngeneration with this key language for a better future.<\/p>\n

\n
\n
<\/p>\n

[1]<\/sup><\/sup> Calculated based on internal data, the numerical
\nconclusion is for reference only.<\/sdt><\/p>\n

<\/sdt><\/div>\n<\/div>\n<\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HONG KONG SAR –\u00a0Media OutReach\u00a0–\u00a014 September 2021 – Preface, the Hong Kong-based EdTech company, has announced the completion of its Series A funding from prominent investor Sunlink Holdings (H.K.) Limited.\u00a0 Preface aims to tackle the issues raised by Hong Kong’s traditional education model, cultivate future global talents and promote coding as the world’s universal language, …<\/p>\n","protected":false},"author":1,"featured_media":17478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/17477"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=17477"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/17477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/17478"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=17477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=17477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=17477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}