Alibaba & Jack Ma Enter K-12 Market
Founder of Alibaba, Jack Ma, is not only involved in education through his Lakeside University, but has also began engaging in K-12, through the establishment of his Yun Gu school. The school recruited its first cohort this September, and Jack Ma publicly announced that students entering this school should not aim for high-academic scores on any exams, but rather, with a slogan of “educating for the future”, have a strong focus on creativity. Subjects such as music, PE, arts and languages are all compulsory for students. The school will be partially funded by Alibaba, with a total investment of USD1.5 billion, and will have a total capacity of 3,000 students. It is planned that the school will have a teacher student ratio of 5:1, however Ma does not want to make it an “upper class school”. The annual tuition fee is only USD 7,000, although others have said that the real tuition costs would be around USD 15,000. Meanwhile, top international schools in China charge over USD 40,000 a year for tuition.