MYX Investor Update
We're using this opportunity to not only update you on all the great things happening in the MYX, but to also show off our brand new website! After you check out the latest news below we would love for you to browse around and see all of the evolution in our direction, in our materials, and in our collateral from students and parents.
432% Revenue Growth
Increase in students and average tuition has us on a trajectory toward profitability.
178% Enrollment Growth
We grew 14 students in Costa Rica last Spring to 39 students in Miami this Fall.
233% Lead Growth
Since last year we've gone from 6K leads to over 20K leads, at 90% less cost per.
Meeting students where they're at
We've been updating you on all the viral moments MYX has been seeing on TikTok, but recently that success was also recognized by TikTok themselves. We've been published as a case study by TikTok that you can find here (along with our latest post for move in weekend) to see just how successful our growth has been on the platform.
Now that we've developed a scaleable playbook for our team to run on TikTok targeted toward students, we plan to expand our efforts across other channels more geared towards parents for this upcoming round of recruitment. Those parents are a major reason behind this web re-design, and we'll rely upon all of the great collateral hosted here to help tell them the story of MYX.
Flexible tuition options
Up until this Fall, MYX students have only been able to attend by paying out-of-pocket, before the term begins. As our operations have stabilized, we've for the first time been able to allow longer, zero-interest payment plans through MYX that allow students and their families to spread out payments. However, this still doesn't account for the fact that most families expect to be able to finance some or all of their tuition through student loans.
After months of diligence and partnership discussions, we have been approved this week to join the Climb Credit platform. You'll see here an example of the type of offers that Climb will be able to make available to our students and their families.
We have agreed upon deal terms to launch a significant partnership with Arizona State University! In return for sharing some of our expertise related to GenZ recruitment and TikTok, ASU will be returning an equal amount of value in the form of for-credit courses for MYX students.
This upcoming Spring, every single MYX student will be enrolled in for-credit classes at no extra cost, as we are receiving a 50+% cash discount based on our services as an agency.
ASU's size and strength, along with its positioning as the #1 school in the country for innovation, gives us a big brand name to feature for prospective students and parents.
By joining marketing efforts we are able to expand MYX's reach, and will hopefully be working with their comms team to have some articles written in the press.
Come Visit Us
We will be in Miami until November 19th and would love to show you the magic that is happening here on the ground. Our students are also always looking to meet interesting people as part of our Shower Talk series of featured speakers! Let us know if you'll be attending, or as always if you ever want to catch up with Abby 1:1.