Company type | Public |
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Traded as | NYSE: GOTU |
Founded | 2014 | in Beijing, China
Key people | Xiang Dong Chen (Chairman and CEO) |
Revenue | CN¥7.125 billion[1] (2020) |
Operating income | CN¥−1.755 billion[1] (2020) |
Net income | CN¥−1.393 billion[1] (2020) |
Number of employees | 6435 |
Gaotu Techedu | |||||||
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Simplified Chinese | 高途在线有限公司 | ||||||
Traditional Chinese | 高途在線有限公司 | ||||||
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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].
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.