Lingo Media CEO Michael Kraft recently took the time to sit down with Stu Taylor from Biz Talk Radio Network to talk about the EdTech sector and Lingo Media’s recent developments and outlook on the market for English language learning.
Some of the highlights include;
The company’s origins as a textbook publishing company, and its transition into an EdTech software learning company through strategic acquisitions and ongoing investment in product development. (2:15)
Lingo Media’s focus is on enterprise solutions, a strategy that includes marketing to educational institutions, governments and corporations. The company focuses on top tier organizations, preferring to market, for example, to Ministries of Education responsible for training in the school systems and Ministries of Labour to educate workforces. Many corporations are also making investments in educating their management and employees in English. The strategy has already seen success, producing contracts throughout Latin America, with the armed forces in Peru and namely with SENA in Colombia. (3:18)
The importance of scalability in software, and the high profit margin advantage that comes with an already-developed product. (4:23)
The company’s strategy for taking on the $56 billion global market for English language learning, the $2.5 Billion global market for digital learning expenditures and the reasons why Latin America is the current focus and Asia the company’s next (5:40).
The flexibility of its software combined with the ability to develop custom learning products that are applicable to multiple markets (6:58).
A financial snapshot of the company (8:38).