托福可能要被卖了

Core Viewpoint - The Educational Testing Service (ETS) is negotiating to sell its Graduate Record Examination (GRE) and Test of English as a Foreign Language (TOEFL) businesses due to declining test-taker numbers, increased market competition, and changes in U.S. policies affecting international students [3][6]. Group 1: ETS Financial Performance - ETS reported an annual revenue of $1.09 billion for the fiscal year ending September 2024, with over 80% of this revenue coming from core examination products and assessment services [5]. - The organization has faced financial difficulties, leading to multiple rounds of layoffs and a significant reduction in its workforce since April 2020 [8]. Group 2: Market Challenges - The number of GRE test-takers has halved from 510,000 in 2017 to approximately 200,000 in 2024, largely due to changes in admission policies at major universities like Harvard and Stanford, which no longer require GRE scores for certain graduate programs [6]. - The international student enrollment in U.S. higher education institutions has seen a decline, with a 12% drop in graduate-level international students reported for the 2025 fall semester [7]. Group 3: Competitive Landscape - The language testing market is undergoing significant changes, with competitors like Duolingo English Test (DET) gaining traction due to the convenience of at-home testing [11]. - IELTS has also faced challenges, with a projected decline in student placements and language test volumes due to policy uncertainties in major study destinations [10]. Group 4: Potential Buyers and Investment - ETS is in discussions with potential investors, including Hillhouse Capital and Nexus Capital Management, to expand its influence in markets like the Middle East and India [12][13]. - The negotiations with Hillhouse Capital focus on potential partnerships to enhance ETS's market presence for GRE and TOEFL exams [13].