RareJob, Inc. (hereafter, “RareJob”), which utilizes human-related data to develop global talents, concluded the capital alliance agreement with Dream Viet Education Joint Stock Company (hereafter, “DVE”), which runs Kynaforkids, leading online English language training solution for students and adults in Vietnam.

Background of this investment in Dream Viet Education (DVE / Kynaforkids)

RareJob has recognized the global expansion of our business as one of our key initiatives. In April 2021, RareJob expanded business alliances with EdTech players overseas by making an additional investment in Globish Academia(Thailand)Company Limited, (hereafter, “Globish”), the Thai online English tutoring service provider and Multibhashi Solutions Pvt Ltd (hereafter, “Multibhashi”), the Indian online English tutoring service provider.
Vietnam is also one of Asian countries which has a great potential in the English learning market. Its Internet penetration rate has been rising and the number of internet users in Vietnam is the third largest in Southeast Asian countries.*1 In addition, the proportion of the household expenditure on education is relatively larger than that of other Asian countries, which indicates that education for kids matters in Vietnamese society.
In addition, the impact of the COVID-19 pandemic let more than ninety percent of kids have online learning experiences,*2 which has rapidly grown needs for online learning. By taking advantage of this situation, DVE has been expanding their online English tutoring solution, under Kyna English 1-1 brand both domestically and internationally and kept growing the number of users steadily. We are sure that Vietnam has a great potential in its English learning market and DVE is the best partner to expand our business in Vietnam. Therefore, we decided to invest in DVE.
*1 Based on a survey conducted by Euromonitor International Ltd in May 2021
*2 Based on a survey conducted in 2020 by B&Company Inc.

Details of this business partnership and its potential in the future

These days DVE has seen a rapid increase in the number of users of their online English learning services for kids, which makes it difficult to secure enough tutors. RareJob suggests a solution for this by utilizing our network of approximately 6,000 available Filipino tutors to provide high-quality and stable lessons to DVE’s students. RareJob recognizes this collaborative approach which supplies tutors to our partners as one of the strategic models for us to expand our business globally in the future. We are looking for more partnership opportunities by applying this model to other foreign companies.
RareJob and DVE also plan to develop various collaborations for DVE’s existing services for adults as well as for kids to seek business expansion by providing existing RareJob Eikaiwa materials, distributing PROGOS®, the AI business English speaking test.
RareJob will explore growth potential in Vietnam by creating synergies with DVE, starting with this partnership that leverages existing assets.
We continue to strengthen business partnership with foreign companies, which is one of the pillars of our growth strategy. We expand overseas business and aspire to become a leading EdTech company which is competitive internationally.

Reference: Previous investments in foreign EdTech players

・Jun 2019 Globish, Thai online English tutoring service provider
・Nov 2019 Multibhashi, Indian online English tutoring service provider
・Apr 2021 Globish, Thai online English tutoring service provider (additional investment)
・Apr 2021 Multibhashi, Indian online English tutoring service provider (additional investment)

Dream Viet Education Joint Stock Company Corporate Profile

・Company name: Dream Viet Education Joint Stock Company
・Address: 5th floor, Bcons building – 4A/167 A Nguyen Van Thuong, Ward 25, Binh Thanh District, Ho Chi Minh City
・Representative: Ho Hong Bao Tram
・Business Overview: Online Education Business in Vietnam