Online English Education Platform 51Talk Reports Its Third Consecutive Quarterly Profit

prnewswire | September 16, 2020

Online Education Group ("51Talk" or the "Company") (NYSE:COE), China's leading online English education brand and the first online English education brand listed in the United States, released its second quarter 2020 financial results. In the second quarter, non-GAAP net income was RMB39.6 million, and GAAP net income was RMB32.8 million, amounting to the Company's third consecutive quarter of profitability and becoming China's only online English education brand to achieve it. 51Talk also continued to maintain a high gross margin of more than 70% and record high gross billings of RMB676.4 million. Operating cash flow was RMB172.1 million, a year-over-year increase of RMB72.9 million while net revenue was RMB493.5 million, a 40% increase year-over-year.

Spotlight

A sharpened focus on retention, persistence, and graduation has colleges and universities looking for more effective ways to support student success. But even for institutions with a transparent focus on persistence, putting effective programs in place is difficult. Chrissy Coley, Tim Coley, and Katie LynchHolmes, senior consultants with Ellucian, describe what institutions can do today to design, develop, and launch retention and student success programs that work.

Spotlight

A sharpened focus on retention, persistence, and graduation has colleges and universities looking for more effective ways to support student success. But even for institutions with a transparent focus on persistence, putting effective programs in place is difficult. Chrissy Coley, Tim Coley, and Katie LynchHolmes, senior consultants with Ellucian, describe what institutions can do today to design, develop, and launch retention and student success programs that work.

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EDUCATION TECHNOLOGY

Apogee Announce Acquiring Cumulus Technology Services Inc

Apogee, Inc. | January 02, 2023

Apogee, an industry leader in managed technology services for higher education, has recently announced the acquisition of Cumulus Technology Services Inc. Headquartered in Ventura, California, Cumulus Technology Services is a specialist in secure cloud services for higher education and an Amazon Web Services (AWS) Select Consulting Partner. This acquisition reaffirms Apogee's commitment to be the preferred managed technology partner for universities and colleges that strive to innovate and transform. The acquisition extends the managed networking and IT services capabilities of Apogee into the cloud, enabling the new potential for higher education IT innovation to enhance student experiences and promote institutional competitiveness. While the use of technology in attracting and retaining students and providing great blended learning and student life experiences is growing, IT teams in higher education confront increasing difficulty in acquiring and retaining IT expertise. Services and products that delegate IT operations, manage expenses, improve operational effectiveness, and foster innovation are in great demand. Improving the delivery of managed cloud services in higher education helps universities and educational institutions liberate time for innovation, as promised by Apogee. The following acquired services will be incorporated into Apogee's managed technology services portfolio: Secure Cloud Services increase Apogee's expertise in cloud, security, and data center management. Cumulus Technology Services' significant understanding of enterprise resource planning (ERP) cloud migration and containerization, Disaster Recovery-as-a-Service (DRaaS), Backup-as-a-Service (BaaS), and Infrastructure-as-a-Service (IaaS) will enable Apogee to provide colleges and universities even improved performance, scalability, robustness, and security of their apps, infrastructure, and data. Cumulus Data Adapter (CDA) connects and synchronizes institutional ERP systems such as Ellucian Banner® with learning management systems (LMS) such as Canvas by Instructure using a secure, simple-to-deploy technology that significantly enhances IT administration efficiency and student life. As a managed service, CDA is an additional critical tool that addresses the major pain point of data synchronization between LMSs and ERPs, hence easing student data integration difficulties for IT and enhancing the student experience for class registration and attendance. Security Services bolster Apogee's security experience and expertise, allowing for the delivery of brawl-tested college security assessments, ransomware incident response readiness, and staffing and disaster recovery plans. About Apogee Apogee, a leading provider of managed IT services founded in 1999 in Austin, enables colleges and universities to innovate in order to improve the campus experience and foster student life. Apogee helps over one million students and administrators from over 350 colleges and universities across the United States. The company's extensive array of managed services includes Managed Campus networks and IT services, campus engagement, residential networks (ResNet), and video.

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CORPORATE EDUCATION AND TRAINING

Fullstack Academy Partners with Amazon Career Choice to Provide Tech Training to Eligible Amazon Employees

Fullstack Academy | November 04, 2022

Fullstack Academy, a national tech education provider, announced today that it was selected to join the Amazon Career Choice program. Through the program, Fullstack Academy will offer Web Development and Cybersecurity bootcamps to eligible Amazon employees across more than thirty metropolitan areas. The Career Choice program empowers eligible Amazon associates to learn new skills for career success, at Amazon or elsewhere, by offering a variety of education and upskilling opportunities including prepaid college tuition, industry certifications designed to lead to in-demand jobs, and foundational skills such as English language proficiency, high school diplomas, and GEDs. Amazon pre-pays the tuition, books, and fees up to an annual maximum with no lifetime limit for eligible hourly employees. More than 90,000 Amazon employees have participated globally since the program’s inception in 2012 over 35,000 in the U.S. alone. The program is currently offered by 260 education providers across 14 countries. Amazon has a rigorous selection process for education partners and selected Fullstack Academy because of its high proportion of virtual live instruction and support, strong student support mechanisms, and demonstrated commitment to serving groups who are historically excluded in tech. “We’re honored to be a partner school in the Career Choice program delivering tech training to Amazon’s workforce, not only to increase access to local, in-demand jobs but also to support local community growth,As an AWS Training Partner as well, we are excited to continue expanding our partnership with Amazon – helping to develop new cloud talent through the integration of AWS Cloud Practitioner training and certification. Fullstack Academy Career Choice program graduates will be prepared to complete AWS Cloud Practitioner certification and exam vouchers are included with the program. Together with Amazon, we are committed to providing valuable tech education, job search resources, and continuous improvements to the student experience.” Jerrad Tausz, CEO of Fullstack Academy. Fullstack Academy’s Web Development Bootcamp teaches full stack JavaScript, giving students a foundation in both front- and back-end web development and the crucial programming skills needed for in-demand coding jobs. Bootcamp students will graduate with a portfolio to showcase the knowledge and skills required to be hired for roles like web developer, backend engineer, and computer programmer. The Cybersecurity Bootcamp teaches students how to monitor and secure systems, networks, and applications, as well as deploy offensive and defensive tactics needed to appropriately respond to cyber breaches. As part of the bootcamp, students will train for roles such as Information Technology (IT) help desk specialist, systems support specialist, and cybersecurity analyst. These part-time, 30-week training programs are designed for Amazon associates to pursue high-quality career training in tech while continuing to balance work or other commitments. All courses are instructor-led and 100% online. Fullstack Academy places a strong emphasis on career services, including networking opportunities and career counseling. In addition, Fullstack Academy has a hiring partner network of over 840 companies across the U.S., including companies like Bloomberg, Spotify, and Etsy. We’re committed to providing our employees with best-in-class support as they seek to advance their careers,” said Tammy Thieman, global director of Career Choice at Amazon. “Our partner network of educators offers access to in-demand skills training, further education opportunities, and job placement resources in high-growth fields. Career Choice is proud to add Fullstack Academy to our robust list of career training partners for Amazon employees looking to build their skills in the tech industry. About Fullstack Academy Fullstack Academy is a national tech education provider based in New York City. Founded in 2012, it offers web development, cybersecurity, data analytics, DevOps, and product management bootcamps. Fullstack Academy also offers the Grace Hopper Program, an immersive software engineering course for women and non-binary students, in addition to partnerships with leading universities nationwide, including Virginia Tech, Caltech CTME, and Louisiana State University. Graduates have been hired by Google, Facebook, Amazon, Fortune 100 firms, and startups.

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EDUCATION TECHNOLOGY

LISC teams up with HBCUs on talent development program for students, expanded capacity for CDFIs

Local Initiatives Support Corporation (LISC) | November 25, 2022

The Local Initiatives Support Corporation (LISC) has launched a new internship program for students at Historically Black Colleges and Universities (HBCUs) to help bridge the opportunity gap for students of color—offering community development mentorship and experience that gives young people a leg up when entering the workforce. Over the next two years, LISC's National HBCU Talent Development program is placing 40 students in part-time intern positions with local LISC offices and other community development financial institutions (CDFIs). Interns will support a range of initiatives, from marketing to finance to community engagement, while also participating in leadership and national networking events. The program is funded by the Citi Foundation and is specifically designed to address national disparities in internships, with White students significantly more likely to gain paid versus unpaid positions than Black students. The LISC internship pays $25/hour up to $15,000 for the academic year. Talent is everywhere, but opportunity is not," noted Denise Scott, LISC president, who held a virtual "fireside" chat with the initial cohort of interns last month. This program is part of our work to address systemic racial barriers that keep young people from gaining the experience and connections they need to compete for good jobs," she explained. "Through this program, students can earn a strong wage, gain hands-on experience, work with mentors and build a network of contacts and supporters all while supporting valuable community investment activity," she continued. "It's a win for all of us. At the outset, eight HBCUs are participating in the program, with young people from varied backgrounds and experiences applying to participate. Eryn Glover, for instance, is a sophomore marketing major at Johnson C. Smith University (JCSU) in Charlotte, N.C., and one of LISC's first HBCU interns. She is working with the staff at LISC Charlotte to support fundraising, social media and community outreach, helping extend LISC's engagement with the region's philanthropic leaders and supporting valuable collaborations with local partners. I've always known that I wanted to do nonprofit work and put my skills to work to help people," said Glover, a South Jersey native who has spent recent summer breaks working at community-based organizations. She chose JCSU for her education because she wanted to attend an HBCU, benefit from a smaller university, and be close to family that had moved to North Carolina. I feel like I have opportunities here, like the LISC internship, that offer the chance to really get to know professors and mentors, and to also make a difference. I want to work in marketing within the nonprofit space, so this internship really aligns with that," she said. In Washington, D.C., Howard University senior Marsi Hailu is interning with the LISC policy team. Her early projects include mapping gaps in broadband access especially in rural communities and researching the disproportionate impact of climate events on low-income communities of color.I already knew that there is a lack of intergenerational wealth in Black and Brown communities because of historical discrimination," she said of her initial research. "But I guess I didn't realize how much that intersects with geography. It's a lot easier to recover from a disaster if you aren't already living paycheck to paycheck," she added. Hailu, a finance major from Northern Virginia, hopes to pursue a graduate degree in urban development after graduation, with a concentration in affordable housing. She said the LISC internship offers the opportunity to try her hand at different aspects of community development, going well beyond what she might learn in her finance classes. In a lot of places, housing is at the root of inequality," she said, explaining her passion for the work. "As someone who grew up in the area, I see the disparities facing low-income folks. I want to do something about that," she said. In addition to Howard and JCSU, initial HBCU supporters of the program include Edward Waters University (Florida), LeMoyne-Owen College (Tennessee), Lincoln University (Pennsylvania), Morehouse College (Georgia), Simmons College (Kentucky), and Virginia State University (Virginia). Additional HBCUs will be referring students in the months to come. LISC's Scott said the universities are eager to help students identify new opportunities for advancement—particularly given that many of the schools already have existing relationships with LISC, collaborating on local efforts related housing and economic development. "Here at Johnson C. Smith University, we strive to graduate global citizens who develop a compelling sense of social and civic responsibility for leadership and service,. "LISC's internship program is an excellent way for JCSU students to put this possibility into perspective outside of the classroom. Just as we strive to develop a better world by graduating the best and brightest, LISC does the same by investing in its community to make economic equality a reality," he said. JCSU President Clarence D. Armbrister The National HBCU Talent Development program draws on the experience of LISC's nearly three decades of work with AmeriCorps, including the Economic Mobility Corps (EMC) launched in 2020. Through EMC, LISC places national service members in positions that help build the capacity of CDFIs. We have long seen the value in connecting people to community development positions in places that they know and care about," Scott said. "Our HBCU internship program takes that a step further, focusing on gaps in opportunity for students of color, injecting equity into CDFI recruitment efforts and building a community development workforce that reflects the people and places it serves. About LISC LISC is one of the country's largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. Since our founding in 1979, LISC has invested $26.7 billion to create more than 463,000 affordable homes and apartments, develop 78.5 million square feet of retail, community and educational space and help tens of thousands of people find employment and improve their finances.

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