Taiwan-based Hahow Raises US$10M in Series B Funding to Expand Multimedia Learning Scenarios

According to Hahow co-founder Arnold Changthe $10 million raised in this cycle will be primarily used to integrate new forms of media into Hahow’s course offerings and improve its one-stop digital learning services. The company seeks to further exploit the US$1.4 billion smart learning market Taiwanwith the vision of becoming the netflix of the education industry.

The pandemic has accelerated the rise of the information technology industry, which has become one of the main sectors of interest in the world. Ranked among Taiwan the first 50 and from Asia Top 150 Most Innovative and Promising Edtech Companies by HolonIQ, the leading edtech market research company, Hahow is known for its highly popular B2C online courses. In addition, over the past two years, as part of its efforts to gain traction in the online education market, the company has expanded into B2B with Hahow for business. After six years of operation, Hahow’s revenue grew 300% year-over-year, hitting a new high of over $13.4 million in 2021.

Three key assets to lead the development of the e-learning industry

The latest round of fundraising will support Hahow’s efforts to expand into new learning scenarios. At the same time, the company also plans to strengthen its three main strengths through technology investments and learning behavior data:

(1) Accessible Content and Learning Tools: Beyond pre-recorded lesson offerings, Hahow plans to add live-streamed lessons and content in messages or short videos to expand the variety of learning tools that he proposes;

(2) In-Depth Assessment of Learning Outcomes: More than offering stand-alone courses, Hahow seeks to help learners acquire specialized skills using learning maps, teaching assistants, engagement the learning community and a certification system; and

(3) One-stop platform that brings content creators together: Hahow will provide future instructors with an even more user-friendly back-end and go-to-market services that meet traffic monetization needs at both B2C and B2B endpoints.

An OMO upgrade that addresses much-needed talent development strategies

Due to the impact of COVID-19, the talent development environment and organizational structure have undergone significant changes. Designed for the B2B world, Hahow for business has not only seen enrollment and class hours double from term to term, but has also managed to attract nearly a hundred commercial clients, including established names in the technology and finance, such as Foxconn Technology Group’s Cloud Computing Product Division, Cathay Holdings and Qisda.

Creator Economy on the Rise, one-stop services to help content creators unlock monetization opportunities

Besides general consumers, content providers are also Hahow’s customers. This can be anyone from a professional speaker or subject matter expert to a content creator or editor. After launching a course on Hahow’s platform, up to 90% of the revenue generated could go to the instructor. So far, more than 22% of content creators and instructors on Hahow have earned more than $36,000, about a million New Taiwan dollars, thanks to the courses they launched. Among them are Hailey Richards and Ryuuu TV’s Ryu and Yuma, expat YouTubers with over 1 million subscribers, which generated approximately $600,000 income from their Hahow courses. The long tail effect and the power of content creation has been enormous.

“In the future, e-learning will only be used for mastering difficult subjects. There is also a edutainment element to it. At Hahow, we will continue to bring high-quality IPs to new generations of learners, with the aim of strengthening our leadership position and becoming the netflix in the education sector,” Co-founder Arnold Chang mentioned.

IR contacts

If you have any inquiries or suggestions about Hahow’s IR services, please contact our IR agents. Liying Wu, [email protected], (+886)02-2719-9957

About Hahow

With the vision that everyone has valuable skills or knowledge to share, a team of millennials founded edtech startup Hahow in 2015. The company’s name sounds like the pronunciation of “school” (ha̍k-hāu ) in Taiwanese. It is the first in the world to apply the crowdfunding model to the online learning space. Now a multidisciplinary course platform, Hahow is also an expert in adapting content for the digital learning context. Dedicated to meeting the demand for all kinds of knowledge and skills, Hahow provides a stage for everyone to teach and benefit from their expertise.

Operating beyond traditional classrooms, in just six years, Hahow has worked with 600 instructors and helped produce nearly 700 courses, which have been enjoyed by over 680,000 students worldwide. Hahow’s innovative model catalyzed the e-learning trend and made it the market leader. Its turnover was multiplied by several hundred compared to less than $33,000 generated during its founding year.

In 2020, Hahow took it a step further and launched Hahow for business, a suite of e-learning services designed for business. Building on the company’s solid foundation in producing online courses, Hahow for business provides high-quality data-driven content, products and consulting services to help companies achieve their digital transformation goals by implementing corporate training in smart and engaging ways.

Note: Currency conversion based on an exchange rate of 28.75 NTD per USD at March 31, 2022

SOURCEHahow

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