China nurtures its first online learning unicorn

Yuanfudao has closed a $120 million round of financing led by Warburg Pincus and joined by Tencent. The deal values it at over $1 billion, making it China’s first unicorn online tutor.

China nurtures its first online learning unicorn

Yuanfudao said on Wednesday that it had raised $120 million from investors, including private equity firm Warburg Pincus and Tencent, a deal which values the Chinese online tutor at over $1 billion.

The arrival of China’s first e-learning unicorn comes after the Chinese government abolished its one-child policy’ in 2015 and amid advances in online streaming technology.

After several years of sector consolidation due to high-startup costs, stock analysts see...

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