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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
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