Next Elevation Startup Demo Day
"We will make it possible to receive classes like those in Daechi-dong, Korea, anywhere in the world."
Ahn Min-woo, CEO of Tublet Korea, is giving a presentation at the 'Next Elevation 2nd Demo Day' held on the 27th at COEX in Gangnam-gu, Seoul. Photo by Kang Jin-hyung aymsdream@
On the 27th, Minwoo Ahn, CEO of Tublet Korea, emphasized this at the 'Checkpoint of Next Elevation' event held by startup accelerator Next Elevation at COEX in Gangnam-gu, Seoul. Tublet is a startup established in 2021 that provides a platform connecting students and tutors for one-on-one online tutoring services aimed at admission to prestigious universities.
CEO Ahn stated, "Tublet was born to lead the fastest changes and innovations globally based on Korean educational content and services represented by K-Edu." Tublet currently offers services focused on admissions to prestigious universities in the United States. This is because the size and growth potential of the U.S. education market play a central role in the global market.
He explained, "The number of students in the U.S. is about 5 million, and the annual number of test takers for the U.S. exams SAT and ACT is 4.2 million, representing an overwhelming scale and growth potential." He added, "Although the U.S. education market is the largest in the world, it is offline-centered and relatively slow in terms of change and innovation. On the other hand, Korea has a demand-driven service, short-term goal achievement, and a system that actively adopts IT technology, which we aim to apply."
In its first year of launch in 2022, Tublet achieved sales of 460 million KRW. Last year, sales grew 2.5 times to 1.2 billion KRW, with a repurchase rate of 88%. This successful initial performance was made possible through fast class matching, tight class management, and securing excellent tutor resources. In particular, Tublet provides consultation to the first class start within 24 hours. During this process, the system recommends the optimal tutor using artificial intelligence (AI) technology. Additionally, AI analyzes and manages the student's goals, tendencies, and class progress.
Based on his past experience working as a 'top instructor' in the overseas university admissions market, CEO Ahn has secured 1,130 tutors who graduated from prestigious universities. By leveraging automatic customized matching and AI management, tutors can focus solely on teaching, which has accelerated both quantitative and qualitative growth.
Tublet plans to target the U.S. market with a phased strategy starting from the Korean market. CEO Ahn said, "Looking at the market size, Korea is about 50 billion KRW, Asia is 2 trillion KRW, and expanding to the U.S. and others, it becomes a market exceeding 500 trillion KRW. So far, we have targeted Korean international students domestically and Korean students in the U.S., but by the first half of 2025, we expect to secure students from China, India, and local U.S. students." This year, they expect sales of 5 billion KRW and 74 billion KRW next year.
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