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E-Learning: Legend, New Oriental to Set up Website
Legend, China's No 1 PC vendor confirmed its alliance with New Oriental to form an e-learning website over the weekend.
Legend has invested 50 million yuan (US$ 6 million) into the new company, and will hold 50 per cent of the new company. New Oriental's CEO Yu Minhong will be CEO of the new company's CEO.
New Oriental is the largest training school for TOFEL (Test of English as a Foreign Language) test preparations in China, with profit of more than 1 billion yuan (US$0.12 billion) last year. More than 70 per cent of Chinese students currently studying in Harvard and Yale universities in the United States are graduates from New Oriental training programs.
The new company will emphasis on three dimensions: 1) online English courses; 2) real-time consultation on studying abroad, human resources databank; 3) text books.
Source: China Daily
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