Company:Gaotu Techedu
| Type | Public |
|---|---|
| NYSE: GOTU | |
| Founded | 2014 in Beijing, China |
Key people | Xiang Dong Chen (Chairman and CEO) |
| Revenue |  CN¥7.125 billion[1] (2020) |
 CN¥−1.755 billion[1] (2020) | |
| CN¥−1.393 billion[1] (2020) | |
Number of employees | 6435 |
| Gaotu Techedu |
|---|
Gaotu Techedu Inc. (Chinese: 高途在线有限公司; pinyin: Gāotú Zàixiàn Yǒuxiàn Gōngsī, formerly GSX Techedu Inc., from 跟谁学, Genshuixue) is a Chinese education technology company offering online tutoring services for K-12 students, along with foreign language and professional training courses for adults. The company was founded in 2014 by Xiang Dong Chen.[2] Its primary product is the online education platform Genshuixue.[3]
GSX is currently under investigation by the U.S. Securities and Exchange Commission after more than a dozen research reports came out in 2020 accusing GSX of inflating its revenue numbers.[4] These critical reports included ones from short-selling firms such as Muddy Waters Research.[5][6] The stock price went from a high of $149.05 on January 27, 2021, to a low of $2.40 (As of July 2021).
References
- ↑ 1.0 1.1 1.2 "Form 20-F". https://www.sec.gov/Archives/edgar/data/1768259/000119312521130440/d22444d20f.htm.
- ↑ "GSX | GSX Techedu Inc. ADR Profile". https://www.marketwatch.com/investing/stock/gsx/company-profile.
- ↑ "Chen Xiangdong Admits to Losing Sleep Over Unprofitable Online School" (in en). https://www.yicaiglobal.com/news/chen-xiangdong-admits-to-losing-sleep-over-unprofitable-online-school.
- ↑ Yu, Jing Yang and Xie (2020-10-12). "One of the Year’s Worst Short Bets Defies Scathing Reports and an SEC Investigation" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/one-of-the-years-worst-short-bets-defies-scathing-reports-and-an-sec-investigation-11602495518.
- ↑ "GSX Shares Tank 15% After Muddy Waters Claims 80% of Students Are Bots-capitalwatch.com" (in en). https://www.capitalwatch.com/details/news/448734306286833671.html.
- ↑ "Short Sellers Still Love to Hate GameStop" (in en-gb). 12 February 2021. https://www.institutionalinvestor.com/article/b1qjp3jmnxyf73/Short-Sellers-Still-Love-to-Hate-GameStop. "The short interest in GSX is much larger than that of GameStop, at $4.36 billion. GSX shares peaked on Jan. 27, closing at $142.70 per share that day. They were trading Friday around $103, about double their price at the start of the year."
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