Ottawa – June 1, 2017 – betterU Education Corp. (the “Company” or “betterU”), (TSXV:BTRU), (FRANKFURT:5OGA) is pleased to announce the Company’s growth across registrations, revenue, content partnerships and the launch of new programs. (unaudited)
Since the launch of betterU’s marketplace this year and without any mass marketing, the last quarter ended March 31st, saw an additional 1,546 new users registered with 41% or 634 of them completing purchases resulting in Rs.2.3 Million ($48K) in revenue, which is an average purchase of Rs.3,627 ($76) / person. betterU has worked diligently, post going public in mid-March, to increase its team in Canada and India, to support the coming mass marketing campaigns anticipated to begin this June-July and carried forward. Driving mass market visibility to the betterU marketplace is a key priority that will help drive revenues and brand exposure to new heights.
Over this same period, the Company’s content partnerships have grown by an additional 16 educators from countries including the USA, Australia, UK and India. With a combined 2,044 additional multi-category programs ranging across business, technology, exam preparation and KG-12, betterU is now approaching close to 10,000 available programs on its global education marketplace. This is a 4,255% increase over last year’s available programs of only 235 skill development courses. The Company’s focus on the acquisition of content partnerships has been a key initiative to meet the needs of the mass market learners as well as to support betterU’s overall marketplace offering. The more quality content available across categories, types of learning, services and affordability, the more users betterU will continue to attract and be able to support.
In addition, betterU has launched several new programs including its B2B initiatives, which have already resulted in 103 corporations being engaged from our Bangalore, Delhi and Mumbai offices. Revenues are expected to be generated over the upcoming months from these initiatives.
With millions of people requiring access to different forms of education, their variable needs make it impossible for a single educator to service the full solution. betterU’s goal has been to build ‘the Amazon / Uber’ of education for India, a Global Education Marketplace that has the breadth and depth of available content, educational services and support to meet the variable needs of the mass population. “The focus of the Company has always been to put in place the right solutions, partnerships and business models to support the mass growth of India. This last year of modifications to betterU has primed the Company for this growth. We are starting to see a growth in the level of interest from the consumer market, corporates, educators and government,” said Bradley Loiselle, President / CEO betterU.
betterU, an online education technology company, aims to provide access to quality education from around the world in order to foster growth and opportunity to those who want to better their lives. The Company plans to bridge the prevailing gap in the education and job industry and enhance the lives of its prospective learners by developing an integrated ecosystem. betterU’s offerings can be categorized into four broad functions: to compliment school programs with flexible KG-12 programs preparing children for their next stage of education, to foster an exceptional educational environment by providing befitting skills that lead to a better career, to bridge the gap between one’s existing education and prospective job requirement by training them and lastly, to connect the end user to various job opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements and information, which may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with betterU’s growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, betterU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on betterU’s public filings, including their most recent audited consolidated financial statements, are available at www.sedar.com.
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Bruce Chick, MBA
VP Corporate & Investor Relations
1-613-695-4100 Ext. 233