Rejected on Shark Tank Vietnam, eJoy English Reinvented Itself into a Profitable AI-Powered Learning Startup

When Bùi Thị Hoàng Điệp, the co-founder of eJoy English, appeared on Shark Tank Vietnam in 2022, she stood before some of the country’s most influential investors with confidence and hope. Her startup had already reached over 1.5 million users, a remarkable number for a young EdTech company in Vietnam. The product helped people learn English through real-world content such as movies, YouTube videos, and online articles, supported by AI translation and interactive quizzes.

Điệp asked for $100,000 in exchange for 2.2% equity, valuing eJoy at $4.5 million. But the sharks didn’t bite. They questioned the valuation, doubted the ownership of its learning content, and expressed concern about how effectively the platform was converting free users into paying customers.

The rejection stung. In the days that followed, critics on social media echoed the sharks’ skepticism, calling the valuation “too ambitious.” But while others saw the rejection as the end of eJoy’s story, the founders saw it differently. It was the feedback they needed to rebuild their dream from the ground up.

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The Turning Point: From “Unicorn” Dreams to “Camel” Discipline

In the months after the show aired, eJoy’s founders decided to step away from the traditional startup mindset of chasing massive valuations and external funding. They realized that their company didn’t need to be a “unicorn” to succeed. Instead, they adopted what Bùi Điệp calls the “Camel strategy”—a business model built around endurance, self-sufficiency, and profitability.

“We realized that being rejected was a blessing. It forced us to fix what really mattered—our long-term sustainability and core strengths,” said Điệp in an interview with Startup Vietnam.

Under this new approach, the company streamlined its operations and focused on making every employee’s effort count. eJoy now runs with just 28 employees in its Hanoi headquarters, each trained to take on multiple roles in product design, data science, AI development, and user support.

Instead of burning through investor money, eJoy built a lean structure supported by organic revenue. The team shifted its attention to developing technology that could genuinely transform how people learn languages—personalized, intelligent, and grounded in science. This new philosophy became the company’s compass and helped it survive where many fast-growing startups eventually collapse.

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The Breakthrough: AI Speaking World

By 2024, eJoy’s hard work led to its biggest innovation yet—AI Speaking World. This feature represented a turning point, not only for eJoy’s business but for the entire Vietnamese EdTech landscape.

The AI Speaking World allows learners to practice English in over 1,000 real-life speaking scenarios—from everyday conversations like ordering food to professional settings like job interviews and presentations. What makes it special is how it adapts to each user. The system analyzes voice input, identifies weaknesses in pronunciation and fluency, and provides immediate feedback that feels both natural and supportive.

The technology blends artificial intelligence, neuro-linguistic programming (NLP), and speech recognition. This fusion helps learners not just memorize words but actually build confidence in real communication. Users say it feels like having a private English tutor available 24/7.

To make the feature sustainable, eJoy placed it behind its “Pro Plus” subscription plan, turning it into a core revenue driver. Within a year, subscription conversions nearly doubled, and monthly recurring revenue increased from $15,000 in 2022 to about $35,000 by 2025.

This single product feature did more than boost revenue. It became the company’s intellectual property moat, answering one of the sharks’ main concerns—that eJoy lacked defensible, proprietary technology.

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How eJoy Made Learning Feel Real

Unlike traditional learning apps that rely on flashcards and repetitive exercises, eJoy brings English into real-life experiences. The platform helps users learn by living the language.

Students can choose from thousands of real videos, movies, and articles, turning entertainment into an educational experience. When a user clicks on a word in a video, eJoy instantly shows the translation, pronunciation, and example sentences. This method turns passive watching into active learning.

A memorable example comes from Hoang, a visually impaired student who used eJoy to prepare for his university entrance requirements. After months of consistent practice, he achieved a high enough English score to win a full scholarship at Fulbright University Vietnam.

This story spread widely in Vietnam, showing that eJoy’s mission—to make English learning personal and accessible—was truly changing lives.

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The Numbers Behind the Comeback

Today, eJoy English stands as a privately held, venture capital–backed company that has turned rejection into profitability. It is supported by ThinkZone Ventures, which provided seed funding and mentorship, and BK Fund, which connects eJoy with Vietnam’s large network of universities.

Despite its modest team size, eJoy serves millions of learners worldwide. It has maintained a strong 60% 7-day user retention rate, which is well above the industry average for language apps.

Its valuation now sits between $3.6 million and $4.8 million, consistent with its original Shark Tank pitch. The difference today is that the valuation is backed by real financial performance, not just projections.

“eJoy has done what many EdTech startups fail to do—build a business that makes sense before scaling it.”

Nguyen Van Minh, a Vietnamese startup analyst.

Operating leanly has allowed eJoy to reinvest profits into new product development. The company’s continued growth shows that being disciplined and focused can sometimes outperform having millions in venture capital.

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Learning from the Rejection

Every entrepreneur faces moments of doubt, but few turn them into blueprints for success as eJoy did. The Shark Tank rejection taught the team several lessons that shaped their entire approach to business.

Instead of chasing public attention or rapid growth, eJoy focused on earning customer trust. By keeping prices fair and continually improving its learning system, the company built a loyal user base.

The founders also learned to value ownership of their technology. They gradually replaced external APIs with in-house AI systems to ensure the company had full control over its core product.

Finally, they learned that rejection is feedback in disguise. The sharks’ criticisms about monetization and proprietary content directly inspired the creation of AI Speaking World and the Pro Plus plan, which today account for most of eJoy’s recurring income.

In Bùi Điệp’s words, “The sharks were right to question us. They made us better.”

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The Future: Teaching the World Through AI

eJoy’s mission continues to grow beyond English. In 2025, the company launched a major update to its AI Dictionary extension, now supporting seven languages—English, Vietnamese, French, Spanish, Russian, Chinese, and Japanese. This feature allows users around the world to translate, learn, and remember new words instantly as they browse.

The company’s next step is expansion into international markets such as Japan, Brazil, and China. Each market brings new challenges, from local regulations to cultural differences in how people approach language learning. But eJoy is preparing carefully by partnering with schools and businesses to create custom learning programs.

“Our goal is not to replace teachers, but to make English learning personal and human again.”

Điệp.

This mindset of collaboration over competition keeps eJoy grounded. Rather than trying to be everywhere at once, the company is focused on becoming a trusted educational partner wherever it goes.

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Conclusion: From Rejection to Reinvention

Three years after walking away from the Shark Tank stage without a deal, eJoy English stands stronger than ever. It didn’t become a unicorn, but it became something arguably better—a sustainable, profitable company with a clear purpose and global vision.

The founders learned that resilience matters more than funding and that technology can only make a difference when it’s deeply personal. eJoy’s story proves that in business, rejection is not failure; it’s feedback that points you toward what really works.

As Điệp often tells young entrepreneurs,

“Sometimes the smartest investment is saying no to easy money.”

Her words now carry more meaning than ever. eJoy English turned a televised rejection into a case study in smart, sustainable innovation—and that makes it one of Vietnam’s most inspiring startup success stories.