Yuanfudao is a Chinese online education platform which is backed by tech giant Tencent Holdings. In March 2020 it annouced it was financing a round that would value it at around $7.5 billion.
The round of financing was led by Tencent Holdings (0700.HK) and private equity powerhouse Hillhouse Capital Group.
Between January and mid-March 2020, Yuanfudao ranked first in in-app purchases on the Chinese app store's education category, according to mobile app performance tracker App Annie.
Yuanfudao's estimated annual revenue for 2019 was $250.3 million.
Timeline
March 31, 2020
Yuanfudao raises $1 billion in a new financing round, led by Tencent Holdings and private equity firm Hillhouse Capital Group.
December 26, 2018
Yuanfudao raises a $300,000,000 series F round.
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LinkedIn
Shuai Ke
Co-Founder
Xin Li
Co-Founder
Yong Li
Co-Founder
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Gené Teare
November 9, 2020
Crunchbase News
Global venture funding in October 2020, the first month of the final quarter of the year, held steady at $23 billion and followed a strong third quarter, according to Crunchbase data.
Manish Singh
June 29, 2020
TechCrunch
Zuoyebang, a Beijing-headquartered startup that runs an online learning app, said on Monday it has raised $750 million in a new financing round as investors demonstrate their continued trust in -- and focus on -- Asia's booming edtech market. U.S. investment firm Tiger Global and Hong Kong-based private equity firm FountainVest Partners led the six-year-old [...]
Reuters Editorial
March 31, 2020
IN
Chinese online education platform Yuanfudao said on Tuesday it has raised $1 billion in a new financing round, led by Tencent Holdings and private equity firm Hillhouse Capital Group.
References
Is a
Company attributes
Location
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Active
B2X
Crunchbase
Founded date
2012
Total funding amount (USD)
300,000,000
Latest funding round date
April 2020
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CommerceSubscription
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