Chinese online English education platform VIPKID has raised $500 million in its latest round of funding, demonstrating just how hot China’s private equity market is getting.
As a result of the successful series D round of capital raising -- which saw Tencent, Sequoia Capital, Yunfeng Capital and technology-focused hedge fund Coatue Management all chip into the venture -- the five year-old startup is now worth over Rmb20 billion $3.7 billion, the company said on Thursday.
If so, VIPKID is now worth more than all of China's publicly listed education firms except for US-listed TAL Education and New Oriental Education.
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