TAL Education took a 32% stake in Phoenix, the operator of China's most widely used e-learning platform, through the deal.
Education services provider TAL Education Group has paid $30m for a 32% stake in China-based e-learning platform developer Phoenix E-Learning Corporation on Friday.
Founded in 2003, Phoenix is the operator of online learning platform Zxxk.com, which has over 15 million registered users spread across more than 30,000 public schools in China, more than any of its competitors, the company claims.
TAL said in a statement: “TAL’s investment in Phoenix E-Learning is an important step to enter the market of digitalising…
