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
October 22, 2020
Yuanfudao raises a $2,200,000,000 series G round.
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.
Funding rounds
People
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Role
LinkedIn
Shuai Ke
Co-Founder
Xin Li
Co-Founder
Yong Li
Co-Founder
Further reading
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Author
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Description
Emma Lee and Wei Sheng
July 26, 2021
TechNode
Beijing unveiled new rules on Saturday that will bar edtech companies from earning profits, raising capital, or going public.
Ingrid Lunden
June 22, 2021
TechCrunch
Online teaching came into the spotlight for many students and parents in the last year, and today one of the companies that saw a big lift during that rush of activity is announcing a big round of funding to carry it into what has emerged as a more permanent change of habits for many learners. [...]
Ingrid Lunden
June 22, 2021
TechCrunch
Online teaching came into the spotlight for many students and parents in the last year, and today one of the companies that saw a big lift during that rush of activity is announcing a big round of funding to carry it into what has emerged as a more permanent change of habits for many learners. [...]
Emma Lee
June 2, 2021
TechNode
Beijing is stepping up its scrutiny on the online tutoring sector. Tencent-backed edtech firm Yuanfudao is the latest company reacting to that regulation.
Emma Lee
May 10, 2021
TechNode
SAMR said in a statement on Monday that it is imposing RMB 2.5 million ($389,000) fines each on edtech platforms Zuoyebang and Yuanfudao.
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
Industry
Location
Company status
Active
B2X
Crunchbase
Investors
Founded date
2012
Total funding amount (USD)
2,500,000,000
Latest funding round date
October 22, 2020
Business model
Latest funding type
Latest postmoney valuation
3,000,000,000
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