VIP kid was receiving 10 to 20,000 teacher applications a month. They started expanding their offerings to subjects like science, math and history. The company cleared a $500 million round of financing by 2020 when the pandemic started introducing everyone to the idea of online school. In 2021, a truly seismic policy change in China ripped a hole in the foundation of the VIP kid universe.
Businesses run on incentives — from attracting customers with great prices, to drawing in talent with great salaries. But incentives aren’t something you set once; you must constantly revisit them to adjust to changing times. Cindy Mi, founder and CEO of the learning platform VIPKid, has leveraged the power of incentives to build a thriving global learning community — and, to shepherd her organization through a black hole-sized disruption.
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