Edtech Business

China’s Yuanfudao Raises $250 Million From Tencent at $2.8 Billion Valuation

Nov 6, 2018

DOUBLE THE UNICORN: Yuanfudao, an online tutoring platform based in Beijing, has raised $250 million from Chinese internet conglomerate Tencent in a deal that values the education company at $2.8 billion. Tencent also participated in for Yuanfandao’s $120 million fundraise last year.

Founded in 2012, Yuanfudao currently offers live tutoring services covering K-12 school subjects and courses for adult learners. According to The Information, the company earned an estimated 700 million yuan (approximately US $101 million) last year.

Nine-figure funding rounds for Chinese education startups are quickly becoming the norm. This summer, English-tutoring startup VIPKID closed a $500 million investment. Zuoyebang, an online homework-help tool, raised $350 million in July. And K-12 online education startup 17zuoye nabbed $250 million in Series E funding this March.

Edtech Business

China’s Yuanfudao Raises $250 Million From Tencent at $2.8 Billion Valuation

Nov 6, 2018

DOUBLE THE UNICORN: Yuanfudao, an online tutoring platform based in Beijing, has raised $250 million from Chinese internet conglomerate Tencent in a deal that values the education company at $2.8 billion. Tencent also participated in for Yuanfandao’s $120 million fundraise last year.

Founded in 2012, Yuanfudao currently offers live tutoring services covering K-12 school subjects and courses for adult learners. According to The Information, the company earned an estimated 700 million yuan (approximately US $101 million) last year.

Nine-figure funding rounds for Chinese education startups are quickly becoming the norm. This summer, English-tutoring startup VIPKID closed a $500 million investment. Zuoyebang, an online homework-help tool, raised $350 million in July. And K-12 online education startup 17zuoye nabbed $250 million in Series E funding this March.

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