Chinese students study English for upwards of 18 years, graduating from university still terrified to speak. At Chatterize, we build conversational chatbots that help young Chinese kids speak English with confidence.
Chatterize's MVP, TalkTown, released as a WeChat Mini Program in mid-February with growth to 18,500 users in nine weeks. 70% of growth is from 3rd-5th tier cities, as these families are unable to afford existing spoken English solutions.
Rural Chinese mega-cities have less disposable income, but a massive willingness to pay for online English education. 80% of families in 3rd-5th tier rural Chinese mega-cities spend RMB 5-15K (NZD 1,500- 3,500) on online English education annually. At RMB 400 (NZD 275), Chatterize aims to grab 8-23% of this spend.
Pre-money valuation: $2,200,000