{"id":62138,"date":"2020-12-29T21:47:01","date_gmt":"2020-12-29T19:47:01","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=62138"},"modified":"2020-12-29T21:47:01","modified_gmt":"2020-12-29T19:47:01","slug":"chinese-online-education-app-zuoyebang-raises-1-6-billion-from-investors-including-alibaba","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/chinese-online-education-app-zuoyebang-raises-1-6-billion-from-investors-including-alibaba\/","title":{"rendered":"Chinese online education app Zuoyebang raises $1.6 billion from investors including Alibaba"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left;\">The rivalry between China\u2019s top online learning apps has become even more intense this year because of the COVID-19 pandemic. The latest company to score a significant funding round is\u00a0<a href=\"http:\/\/www.zybang.com\/\">Zuoyebang<\/a>, which\u00a0<a href=\"https:\/\/mp.weixin.qq.com\/s\/sgwmsJTg8ixpYrGtRuXASw\">announced toda<\/a>y (link in Chinese) that it has raised a $1.6 billion Series E+ from investors including Alibaba Group. Other participants included returning investors Tiger Global Management, SoftBank Vision Fund, Sequoia Capital China and FountainVest Partners.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\"><a href=\"https:\/\/crunchbase.com\/organization\/zuoyebang\" data-type=\"organization\" data-entity=\"zuoyebang\"><strong>Zuoyebang\u2019s\u00a0<\/strong><\/a>\u00a0latest announcement comes just six months after it announced a $750 million Series E led by Tiger Global and FountainVest. The latest financing brings Zuoyebang\u2019s total raised so far to $2.93 billion. The company did not disclose its latest worth, but Reuters\u00a0<a href=\"https:\/\/www.reuters.com\/article\/us-china-zuoyebang-fundraising\/baidu-backed-online-tutor-zuoyebang-seeks-new-funding-at-10-billion-valuation-sources-idUKKBN26L1DE\">reported in September<\/a>\u00a0that it was raising at a $10 billion valuation.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">One of Zuoyebang\u2019s main competitors is Yuanfudao, which announced in October that it had reached a $15.5 billion valuation after closing a $2.2 billion round led by Tencent. This pushed Yuanfudao ahead of Byju as the world\u2019s most valuable edtech company. Another popular online learning app in China is Yiqizuoye, which is backed by Singapore\u2019s Temasek.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Zuoyebang offers online courses, live lessons and homework help for kindergarten to 12th grade students, and claims about 170 million monthly active users, about 50 million of whom use the service each day. In comparison, there were about 200 million K-12 students in 2019 in China,\u00a0<a href=\"http:\/\/www.moe.gov.cn\/jyb_sjzl\/sjzl_fztjgb\/202005\/t20200520_456751.html\">according to the Ministry of Education<\/a>\u00a0(link in Chinese).<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">In fall 2020, the total number of students in Zuoyebang\u2019s paid livestream classes reached more than 10 million, setting an industry record, the company claims. While a lot of the growth was driven by the pandemic, Zuoyebang founder Hou Jianbin said in the company\u2019s funding announcement that it expects online education to continue growing in the longer term, and will invest in K-12 classes and expand its product categories.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\n","protected":false},"excerpt":{"rendered":"<p>The rivalry between China\u2019s top online learning apps has become even more intense this year because of the COVID-19 pandemic. The latest company to score a significant funding round is\u00a0Zuoyebang, which\u00a0announced today (link in Chinese) that it has raised a $1.6 billion Series E+ from investors including Alibaba Group. Other participants included returning investors Tiger [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":62141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6029,984],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chinese online education app Zuoyebang raises $1.6 billion from investors including Alibaba - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The rivalry between China\u2019s top online learning apps has become even more intense this year because of the COVID-19 pandemic.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/chinese-online-education-app-zuoyebang-raises-1-6-billion-from-investors-including-alibaba\/\" \/>\n<meta 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