GALAXY MEDIA & ENTERTAINMENT INVESTS IN ONLINE EDUCATION COMPANY HOCMAI.VN
Today, Galaxy Media and Entertainment (Galaxy) and Education Services and Investment Corporation (Hocmai) has announced Galaxy’s acquisition of a majority stake in Hocmai. This marks Galaxy's official entry into Vietnam’s rapidly growing online education sector.
Mr. Luong Cong Hieu, CEO of Galaxy, said: “We have been looking to enter this field for more than a year and have been looking for a true education company in the market. We find that the leaders of of Hocmai are true educators who are passionate and understand deeply the changing environment of K12 education. Hocmai is widely recognized by parents, students and other education entities as the number one brand in K12 online tutoring with the best education content and the highest market share. We are confident that with the support of Galaxy, Hocmai will have more resources to develop and capture the increasing demand for online education in Vietnam. Following its investment in Hocmai, Galaxy is looking to invest in other online education companies in all segments including preschool, high school, university and vocational training.
Mr. Pham Giang Linh, CEO of Hocmai, said: “We are very happy to partner with a major media and technology company like Galaxy. This partnership will support and reinforce our vision of creating and delivering high quality personalized learning experiences for all Vietnamese students. Moreover, this partnership will help us explore and leverage our expertise in education by adding more value to our online learning programs”.
After more than 13 years of operation, hocmai.vn has attracted more than 4 million students, and has provided more than 1,000 courses, 30,000 lectures per year taught by more than 200 teachers on computers, laptops, tablets and smart phones.
Galaxy was the first private-sector company to enter Vietnam’s entertainment market in 2004 with the hit movie "Nhung Co Gai Chan Dai" and recently released the 2019 Christmas’s box-office hit“Mat Biec”. Galaxy developes the first Galaxy cinema chain in Vietnam and is the official distributor for major Hollywood studios including Sony, 21st Fox Century and Warner Brothers.
Galaxy shareholders are experienced investors in the digital economy with portfolio companies including Galaxy Play, Vietnam's number one streaming service, and MoMo, Vietnam’s first fintech unicorn, among others.
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