Chinese online tutor Zuoyebang raises $750mln in fresh round – ZAWYA

Chinese online tutor Zuoyebang raises $750mln in fresh round – ZAWYA

Chinese online tutor Zuoyebang raises $750mln in fresh round | ZAWYA MENA Edition HomeBusinessFinancial ServicesArticleChinese online tutor Zuoyebang raises $750mln in fresh round Zuoyebang says it has more than 50mln daily active users and over 12mln paid users    The skyline of the Beijing's Central Business District rises behind people crossing a street during evening rush hour as the spread of coronavirus disease (COVID-19) continues in China, April 15, 2020. Image used for illustrative purpose.HONG KONG/BEIJING - Online tutoring startup Zuoyebang said on Monday it raised $750 million in a fresh funding round, led by investment firms FountainVest Partners and Tiger Global Management, as the COVID-19 crisis spurs investor interest in education technology.The Chinese company said in a release that its series E funding round also attracted other investors, including SoftBank's Vision Fund, Qatar Investment Authority, Sequoia Capital China, Tiantu Capital and Xiang He Capital.Zuoyebang, which was founded by search engine giant Baidu in 2014 and spun off in 2015, says it has more than 50 million daily active users and over 12 million paid users. Its current investors include Goldman Sachs, Coatue Management and GGV Capital.The Chinese company said in a release that its series E funding round also