Signing of Business Transfer Agreement with Grow Corporation
[Asia Economy Reporter Kim Cheol-hyun] Class101 (CEO Gong Dae-seon) announced on the 23rd that it has signed a business transfer agreement with Grow Corporation and will release the content of 'Grow'.
Class101 recently acquired 'Grow' from the edutech startup Grow Corporation, which recently ended its service. Grow is a service that provides educational content in various fields such as employment and job skills, hobbies and culture, finance, and foreign languages.
Class101 transitioned its business model to a subscription service in September last year, and in December, it integrated services in Korea, the United States, and Japan to launch a global subscription platform. In February this year, the transaction amount nearly doubled compared to January, accelerating growth. Since the subscription transition, about 700 classes have been newly opened, currently offering over 4,200 classes.
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Gong Dae-seon, CEO of Class101, said, "We acquired Grow following Soomgo classes last month to provide diverse content that infinitely expands the realm of learning and enables new experiences every day," adding, "We will focus on growing as a global platform and accelerate our efforts to target the global market."
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