Tencent is contributing $250m to a larger funding round reportedly being raised by online education platform Yuanfudao at a valuation of $2.8bn.
China-based online education services provider Yuanfudao is in the process of raising a $350m funding round led by a $250m commitment from internet group Tencent, The Information reported on Friday.
The round is set to value Yuanfudao at $2.8bn pre-money according to The Information, though Yuanfudao denied it is raising cash while Tencent declined to comment on the report.
Founded in 2012, Yuanfudao operates several mobile apps that provide online courses and study guides to students in primary and secondary…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
