According to Business Insider, Education is on the rise in the East. One of the hottest sectors in China's tech industry is education technology. Earlier this year, education startup VIPKID raised $500 million at a valuation of over $3 billion. Such a valuation for an education startup is practically unheard of in the US. VIPKID is an online firm offering Chinese students an American elementary education experience. Chinese society places an extremely high value on education.