- Briefing Your roundup of Asian tech and startup news that matter
Miguel Cordon · · 1 min readSources: Alibaba-backed edtech major Zuoyebang mulls $500m US listing
“Chinese online tutoring platform Zuoyebang is considering a US initial public offering that could raise at least US$500 million,” Bloomberg reported, citing people briefed on the matter.
Details:
- The Alibaba-backed edtech company is working with advisers on the IPO, which could occur as soon as second half of 2021, the sources said.
- Details of the planned US listing, including its size and timeline, could still change, the people added.
Context:
- It was reported earlier this year that Zuoyebang had recruited Bing Jin, a senior executive from livestreaming company Joyy, for his experience in the US capital market.
- To date, Zuoyebang has raised at least US$3.4 billion from backers such as SoftBank Vision Fund, Goldman Sachs, and Sequoia.
Editing by Collin Furtado and
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
