Education is all the rage right now. Especially as parents wrack their brains on how to keep their children in check while schools throughout the world remain closed. As such, investors are now betting big on this captive marketplace.
Yuanfudao, the Tencent-back Chinese tutoring website, raised $1 billion on March 31 for its Series G fundraising. Hillhouse Capital led the round of funding, joined by Tencent, Boyu Capital and IDG Capital. Post investment values Yuanfudao at $7.8 billion, the highest valuation for a private education company.
The announcement follows the completion of the $535 million merger transaction between EdtechX, a special purpose acquisition company SPAC...
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