According to TAL’s unaudited financial results for the fourth fiscal quarter and the fiscal year 2020, the company is set to further invest 10.4 million US dollars in exchange of controlling equity interests in a distressed online one-on-one English tutoring services provider with material deferred revenue liability. TAL said that their investee will be revealed based on their fiscal report later. According to industry insiders, the investee might be DaDa English.
VIPKID、DaDa、51talk、vipJr are one-on-one English online tutoring institutions with high popularity in China. As one of China’s most successful intelligent English learning platforms for children aged 4 to 16, DaDa has been facing constantly negative news since 2019 and is the only one had deficit for months in 2019 among the four firms, according to 36Kr.
Also, as the investor of DaDa's Series C and D rounds of financing, TAL might have the possibility to benefit from DaDa’s resources such as the customer community and foreign teaching team, which can help TAL to further expand its business layout in the overseas market.
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