June 29 - 11:06
Zuoyebang raises $750 million for online learning app
Chinese edtech startup Zuoyebang has pocketed $750 million from a new funding round. Zuoyebang has more than 50 million daily users on its AI-powered platform. The company was spun out of Baidu back in 2015. SoftBank's Vision Fund and the Qatar Investment Authority were among the backers in this bumper round. The edtech market in China is set to be worth more than $80 billion inside two years.
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