Baidu-backed Chinese online tutor Zuoyebang raises US$750 million from Tiger Global and Fountainvest


Source: scmp.com scmp.com

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The start-up claims over 170 million monthly active users Investment in China’s education sector has topped US$1.1 billion so far this year The Chinese start-up, already a unicorn, is riding on a surge in online education during the coronavirus epidemic. Children hoping that school closures meant a break from homework were sadly disappointed as teachers took to online education during coronavirus-induced lockdowns. Next week, 10.71 million Chinese students will sit the gaokao , a notoriously gruelling university-entrance exam that can play a decisive role in shaping their future. Many of these pupils have been preparing online. Investors have been quick...