percent increase: Meanwhile, its gross billings climbed to 67.4 million dollars for the quarter, representing a 27.4-percent increase as compared to the same period last year, according to Global Times China. Our first quarter results reflect the successful and consistent execution of our strategic initiatives which focus on our flourishing K-12 one-on-one mass-market program in China's lower-tier cities, Huang Jiajia, founder and chief executive officer of 51Talk, said in a statement released by the company on Friday. The company on Friday delivered net revenues of 48.1 million US dollars in the first quarter through March, notching a year-over-year increase of 23 percent. With a solid presence in the largely saturated tier-one cities, we are keenly focused on bringing our programs to China's large and underserved markets in non-tier-one cities, Huang added. The company said first-quarter gross billings from non-tier-one cities, or medium and small-sized cites, accounted for 72.8 percent of its K-12 mass-market one-on-one offerings, compared with 63 percent a year ago. Founded in 2011, the Beijing-headquartered company operates online and mobile education platforms that enable students to take live interactive English lessons with international foreign teachers.
(news.financializer.com). As
reported in the news.
Tagged under percent increase, tier-one cities topics.