Liulishuo, a China-based English teaching platform that uses artificial intelligence (AI), filed for a $100m initial public offering on the New York Stock Exchange on Friday that will offer an exit to publisher Hearst.
Incorporated in 2012 as Laix, Liulishuo operates an interactive language learning course that relies on AI rather than human teachers to assess spoken and written English. The company had grown to 83.8 million cumulative users by the end of June this year.
Liulishuo claimed
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