The online education platform, which counts Baidu and Wanxin as investors, plans to float in Hong Kong.

Hujiang, the China-based online education platform backed by internet group Baidu and publisher Wanxin Media, filed for an initial public offering in Hong Kong today.

The company has not disclosed how many shares it plans to issue in the offering or how much money it is targeting.

Founded in 2009, Hujiang operates an online platform that provides tutoring and teaching to users with a broad age range, offering some 2,000 courses that are overseen by third-party tutors.

The company had more than 170 million users as of the end of 2017, according to the IPO filing. It made a net loss of about RMB537m ($81m) in 2017 from revenues of RMB555m.

Baidu provided $20m of series B funding for Hujiang in 2014 before reportedly investing a further $100m in 2015.

Hujiang raised $158m later the same year from investors including Wanxin Media and China Minsheng Investment. Its earlier investors include Huyuan Investment and Shanghai Cultural Industry Fund.

Baidu owns a 3.4% stake in Hujiang and Wanxin 1.4% but many of the company’s key shareholders are similarly named entities Hujie Investment (34.6%), Huji Investment (11.6%), Hujiang Investment (8.6%) and Huyuan Investment (5%).