Tech in China
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Tech in China

“Zuo Ye Bang” gets millions from its E round

K12 online education brand “Zuo Ye Bang” has completed its Series E financing with $750 million USD in investments, led by Fountainvest Partners and Tiger Global, new and old shareholders such as Qatar Investment Authority, Sequoia Capital China, Softbank Vision Fund Phase I, Tiantu Capital, Xiang He Capital follows and furthers their investments; Thaihecap acts as the exclusive financial advisor.

Zuo Ye Bang is currently the largest K-12 online education platform for domestic users in China. Founded in 2015, it started in the online education field on the “Pai So” app and launched its live streaming class service in 2016.

Zuo Ye Bang is the first vertical business to spin-off out of Baidu, and is possibly the most successful amongst its peers.

Jian Bin Hou, the CEO of Zuo Ye Bang, making recollections on the two key action over the last five years: First, providing convenient services to the K-12 age group, the most populous age group in China, through utilized technology and tools; Secondly, launching the live-stream class product.

Observing the Chinese online education market, K-12 field currently has the following four typical marketing segments: Tutor platform, inventory service of test-related questions, online teaching services, and homework assistance service.

Zuo Ye Bang’s strategy to expand its market share, is first to gain a firm foothold establishing itself as an adequete learning tool, then transform into an integrated platform, pushing out popular products like Zuo Ye Bang’s live online classes in offering video explanation of knowledges, etc., then incubate a sub-brand “Huan Xiong English” to target China’s children English education market.

Currently, the Zuo Ye Bang APP is ranked amongst the TOP 30 (top of the education category) of the China Mobile APP list with 145 million MAU.

According to reports, the highest peak of DAU of Zuo Ye Bang products exceeded 50 million this spring.

According to QuestMobile’s research survey, ZuoYeBang is the only comprehensive education service app amongst the 15 most used apps by women born in the 70s and the 80s.

Source: https://www.36kr.com/p/771278646048000

https://mp.weixin.qq.com/s/B30PHA_D_3SGmxqkhMdsXA

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Tech In China

Tech In China

Stories about China’s tech giants, startups, funding, venture capital, trends, and industries of tomorrow.