QiuQiuHuiBen(球球绘本), providing online picture books for children, announces today that it has raised nearly 10 million yuan from Netease Youdao(NYSE: DAO), with EdBeta Fund also participating. According to Wu Xiaorong, the founder of QiuQiuHuiBen, the latest fund will be used to optimize the product, content, and services, as well as to attract more users by marketing.
Founded in June 2018, the start-up now has accumulated nearly 350,000 users. Apart from online teaching and parent-child book reading, QiuQiuHuiBen also introduces the WeChat mini-program to empower the interaction between parents and kindergartens, it is reported that the company has penetrated into 5,000 kindergartens at zero cost under the COVID-19 crisis.
The market scale of the textbook for kindergartens in China is about 15 billion yuan. Each kindergarten adopts 3 to 5 textbooks that the cost of purchasing a single textbook per semester is about 10,000 to 20,000 yuan. Also, the textbooks are digitizing and “in the future, textbooks for kindergartens will definitely move towards online, with a comprehensive and structured upgrade.” Wu Xiaorong said.
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