Pingo Space is in the education industry. In China, the education industry is large. Many people are trying to gain income by teaching or doing something that allows the next individual to learn. Throughout this internship, I learned that the startup/gig economy here is large. A lot of people are entrepreneurs and are executing every idea they come up with. Due to this, I think companies such as Pingo Space has a lot of room to do more creative things within the education industry.
The strengths of this company is that they provide a unique and creative opportunity to learn. Some of the most common things that are taught in the education industry relate to English acquisition. Pingo Space not only offers English lessons but offers opportunities to learn other languages such as French, Arabic and more. Another great thing is that most of the time the specific language is being taught by a foreigner from that country. Pingo Space is unique in the industry because it does not focus on just languages. It focuses on a wide range of skills which makes it more appealing to Chinese locals who are interested in learning something they don’t traditionally learn in school or from their parents.
The weakness I see within the company is not having a large enough team to execute ideas. Currently we have a team of nine people and I think sometimes with all the work they have to carry out, everything becomes too time consuming to the point where they can’t carry it out or it is put off to the side.
Some of Pingo Space threats include companies attempting to create the same concept for their own business. Recently, Sophie and Martha had a conversation about overhearing other people discussing their plans to pursue the idea. Besides their weaknesses and threats, I believe there are a lot of opportunities for Pingo Space to grow.
Since Pingo Space has already created a learning platform for kids interested in going to America in the future, I think they can possibly allow the kids to explore their interest more by finding opportunities or students to visit schools in America. The students in Pingo Club have already been able to travel abroad to places such as Australia so I think traveling to America would attract a lot of the Chinese parents and give the students a glimpse of what their life might look like in America.
Looking to the future, I think Pingo Space can do great things and grow as one of the biggest companies in China. I foresee this because they are offering service that’s not ordinary. It’s different and I think it can only get better from here.