New Oriental Education Founder Michael Yu to Possibly Open E-Business School in the Future

Recently, the live-streaming channel of “Oriental Selection”, an agricultural product e-commerce owned by Chinese educational institution New Oriental Education, became popular online because the hosts sell goods in both English and Chinese. Michael Yu, founder of New Oriental Education, also revealed that an e-business school may be opened in the future.

Michael Yu said on Monday, “We may open an e-commerce school in the future. The livestreaming of New Oriental Education is something very different, featuring knowledge plus culture. It is not on the same field as the traditional buy and sell livestreaming. Many netizens sum it up as a form of diversification. Actually, it is not a diversification as New Oriental Education has been doing this for the past 30 years.

He added, “Nowadays, online celebrities and anchors of live e-commerce need culture training, and New Oriental Education can provide such training. We plan to open an e-commerce business school, not to make money, but to improve the overall quality of Chinese anchors. If it is established, I will personally teach the class, and have Dong Yuhui and other famous anchors help teach the class.”

SEE ALSO: New Oriental Education Operates Bilingual Livestream E-Commerce

On June 9, many short videos of “Bilingual Goods Sales” in “Oriental Selection” attracted a lot of attention and followed with a massive explosion of viewers.

According to third-party data, from June 10, the number of online audience and GMV in the live-streaming room of “Oriental Selection” experienced explosive growth. The number of Douyin followers increased rapidly from less than 1 million to more than 7.91 million on June 15, and GMV accelerated growth, reaching 63.906 million yuan on June 15th.

Previously, for the popularity of the live broadcast, Michael Yu said, “This may be a temporary buzz, but I do hope that the Oriental Selection can henceforth open up opportunities for the development of the New Oriental Education and a new path forward.”