Koolearn

About Koolearn

Initially established as an online education provider in 2005, a subsidiary of New Oriental Education & Technology Group, the company has pivoted its business model. Following a significant regulatory crackdown on for-profit tutoring in China in 2021, the firm transitioned from online education to livestreaming e-commerce. In early 2023, Koolearn Technology Holding Ltd. officially changed its name to East Buy Holding Ltd. to reflect its new primary business focus.

The company now operates primarily through its e-commerce platform, East Buy (previously known as Oriental Select), which gained significant traction through bilingual livestreaming sessions on Douyin, the Chinese version of TikTok. These sessions, often hosted by former English teachers, feature the sale of a wide range of products, with a notable emphasis on agricultural goods, food, books, and groceries. This strategic shift proved successful, with live-streaming e-commerce accounting for over 85% of total revenue in the six months leading up to November 2022. By that time, the platform had amassed over 35 million followers across its Douyin accounts.

East Buy generates revenue through the sale of products on its livestreaming channels and is increasingly focusing on developing its own private-label products. This private-label business, part of a strategy to become an online version of a discount membership club, generated 3.5 billion yuan in the fiscal year ending May 2024, accounting for nearly 80% of total revenue. The company is also building a private membership app to sell these products directly, aiming to reduce its reliance on single platforms like Douyin.