Gaotu Techedu
| Company 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 |
| Website | www |
| Gaotu Techedu | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 高途在线有限公司 | ||||||
| Traditional Chinese | 高途在線有限公司 | ||||||
| |||||||
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 26, 2021[update].
References
[edit]- ^ a b c "Form 20-F". www.sec.gov. Retrieved 2024-08-20.
- ^ "GSX | Private Company". MarketWatch. Retrieved 2024-08-20.
- ^ Chenting, Zhao (2018-06-20). "Chen Xiangdong Admits to Losing Sleep Over Unprofitable Online School". yicaiglobal.com. Retrieved 2024-08-20.
- ^ Yang, Jing; Yu, Xie (2020-10-12). "One of the Year's Worst Short Bets Defies Scathing Reports and an SEC Investigation". Wall Street Journal. ISSN 0099-9660. Retrieved 2024-08-20.
- ^ "GSX Shares Tank 15% After Muddy Waters Claims 80% of Students Are Bots". capitalwatch.com. Archived from the original on 2021-02-02. Retrieved 2024-08-20.
- ^ Celarier, Michelle (12 February 2021). "Short Sellers Still Love to Hate GameStop". Institutional Investor.
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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